Head Office : RUCHI SOYA INDUSTRIES LIMITED Metro Tower

Head Office :

601, Part B-2, 6th Floor,

RUCHI SOYA INDUSTRIES LIMITED Metro Tower, Vijay Nagar, A.B. Road, Indore - 452 010 (M.P.) E-mail : [email protected]

CIN : L15140MH1986PLC038536

RSIL/2021 August 17, 2021

National Stock Exchange of India Ltd. “Exchange Plaza” Bandra-Kurla Complex, Bandra (E),

Mumbai — 400 051

BSE Ltd

Corporate Relations Department, Ist Floor, P.J. Towers,

Dalal Street

Mumbai 400 023

Dear Sirs,

Sub.: Outcome of Board Meeting held on August 16, 2021

Reg. Disclosure under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements)

Regulations, 2015

Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we

wish to inform you that the Board of Directors of the Company, at its meeting held on August 16, 2021 has approved and taken on record the Restated Financial Statements for the year ended March 31, 2021, March 31,

2020 and March 31, 2019 with examination report thereon (“Restated Financial Statements”), issued by the

statutory auditors of the Company in terms of the provisions of the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018. These Restated Financial Statements are submitted herewith and have been prepared and adopted solely for the limited purpose of disclosure in the Offer Documents to be filed with SEBI,

relevant Stock Exchanges and Registrar of Companies, Maharashtra at Mumbai in connection with the proposed further public offering.

It is for your information and records please.

Thanking you,

Yours faithfully,

For Ruchi Soya Industries Limited

Y- R L Gupta

Company Secretary Encl. As above

CHATURVEDI !°" SHAH ui Chartered Accountants

INDEPENDENT AUDITOR’S EXAMINATION REPORT ON RESTATED STANDALONE

FINANCIAL INFORMATION IN CONNECTION WITH PROPOSED FURTHER PUBLIC

OFFERING OF EQUITY SHARES BY RUCHI SOYA INDUSTRIES LIMITED

The Board of Directors Ruchi Soya Industries Limited Ruchi House, Royal Palms, Survey No. 169,

Aarey Milk Colony, Near Mayur Nagar, Goregaon (East), Mumbai — 400 065 Maharashtra, India

Dear Sirs,

1. We have examined the attached Restated Standalone Financial Information of Ruchi

Soya Industries Limited (the “Company” or the “Issuer’) comprising the Restated

Standalone Statement of Assets and Liabilities as at March 31, 2021, March 31, 2020,

and March 31, 2019, the Restated Standalone Statements of Profit and Loss (including

other comprehensive income), the Restated Standalone Statement of Changes in Equity,

the Restated Standalone Statement of Cash Flows for the years ended March 31, 2021,

March 31, 2020 and March 31, 2019, the Statement of Basis of Preparation and

Significant Accounting Policies, read together with the annexures and other explanatory

information thereto (collectively, the “Restated Standalone Financial Information’), as

approved by the Board of Directors of the Company at their meeting held on August 16,

2021 for the purpose of inclusion in the Updated Draft Red Herring Prospectus

(“UDRHP”) Red Herring Prospectus (“RHP”)/ Prospectus (collectively referred to as

“Offer Documents”) prepared by the Company in connection with its proposed further

public offer of equity shares (“FPO”) prepared by the Company in terms of the

requirements of:

a) Section 26 of Part | of Chapter IIl of the Companies Act, 2013, as amended (the “Act");

b) The Securities and Exchange Board of India (Issue of Capital and Disclosure

Requirements) Regulations, 2018, as amended ("ICDR Regulations"); and

c) The Guidance Note on Reports in Company Prospectuses (Revised 2019) issued by

the Institute of Chartered Accountants of India (“ICAI”), as amended from time to time

(the “Guidance Note’).

Head Office: 714-715, Tulsiani Chambers, 212, Nariman Point, Mumbai - 400 021, India. Tel : +91 22 3021 8500 e Fax :+91 22 3021 8595 URL : www.cas.ind.in

Branch: Bengaluru


Managements’ Responsibility for the Restated Standalone Financial Information:

2. The Company’s Board of Directors is responsible for the preparation of the Restated

Standalone Financial Information for the purpose of inclusion in the Offer Documents to

be filed with Securities and Exchange Board of India, Relevant Stock Exchanges and

Registrar of Companies, Maharashtra at Mumbai in connection with the proposed FPO.

The Restated Standalone Financial Information have been prepared by the management

of the Company on the basis of preparation stated in note 2 (A) (a) of Annexure V to the

Restated Standalone Financial Information. The Board of Directors’ responsibility

includes designing, implementing and maintaining adequate internal control relevant to

the preparation and presentation of the Restated Standalone Financial Information. The

Board of Directors is also responsible for identifying and ensuring that the Company

complies with the Act, ICDR Regulations and the Guidance Note.

Auditor’s Responsibility:

3. We have examined such Restated Standalone Financial Information taking into

consideration:

a) The terms of reference and terms of our engagement agreed upon with you in

accordance with our engagement letter dated March 12, 2021 in connection with the

proposed FPO of the Company;

b) The Guidance Note. The Guidance Note also requires that we comply with the ethical

requirements of the Code of Ethics issued by the ICAI:

c) Concepts of test checks and materiality to obtain reasonable assurance based on

verification of evidence supporting the Restated Standalone Financial Information; and

d) The requirements of Section 26 of the Act and the ICDR Regulations. Our work was

performed solely to assist you in meeting your responsibilities in relation to your

compliance with the Act, the ICDR Regulations and the Guidance Note in connection

with the proposed FPO.

Restated Standalone Financial Information as per audited Standalone Financial

Statements:

4. These Restated Standalone Financial Information have been compiled by the

management from audited standalone financial statements of the Company as at and for

the year ended March 31, 2021, March 31, 2020, March 31, 2019 prepared in

accordance with the Ind AS and other accounting principles generally accepted in India,

which have been approved by the Board of Directors / Resolution Professional at

meeting held on June, 29, 2021, June, 26, 2020 and May 29, 2019. a _ ee =

+ a

Ki WUMBAVT +

Continuation sheet...

a)

b)

Cc)


For the purpose of our examination, we have relied on Auditors’ report issued by us

dated June 29, 2021, June 26, 2020 and May 29, 2019 on the Standalone financial

statements of the Company as at and for the year ended March 31, 2021, 2020 and

2019, respectively, as referred in Paragraph 4 above;

Based on our examination and according to the information and explanations given to us

and based on the para 5 above, we report that the Restated Standalone Financial

Information:

has been prepared after incorporating adjustments, if any, for the changes in accounting

policies and regrouping/reclassifications retrospectively in the financial years ended

March 31, 2020 and 2019 to reflect the same accounting treatment as per the accounting

policies and grouping / classifications followed as at and for the year ended March 31,

2021:

there were no qualifications in Auditors Report on the Standalone Audited Financial

Statements of the Company for the year ended March 31 2021, 2020 and 2019 which

require any adjustments to the Restated Standalone Financial Information except as

mentioned in paragraph 7 below; and

have been prepared in accordance with the Act, SEBI ICDR Regulations and the

Guidance Note.

The audit reports on the standalone financial statements for the year ended March 31,

2019 issued by us were modified and included following matter giving rise to

modifications; [Refer note no. 45 to the Restated Financial Standalone Information]

Modified opinion during the year ended March 31, 2019:- The Company was having refund receivable, as on March 31, 2019, amounting to Rs. 4,259.12 Lakh in respect of financial year 2009-2010 to 2013-14 for Daloda and Gadarwara unit towards investment promotional assistance equivalent to 75% of taxes (Commercial Tax / VAT and Central Sales Tax) paid by the Company as per exemption granted in the industrial promotion policy of Madhya Pradesh. However, Madhya Pradesh Trade and Investment Facilitation Corporation, Bhopal rejected the claim and accordingly, appeal was made to the Hon’ble High Court of Madhya Pradesh. During the year ended March 31, 2019, Hon’ble High Court of Madhya Pradesh, Indore bench,

rejected the Company’s claim vide order dated May 16, 2018. Subsequently, the Company has filed special leave petition before Hon’ble Supreme Court of India for refund of the amount, which has been admitted on August 29, 2018. No provision for impairment during the year ended March 31 2019 was considered against the aforesaid receivable till the decision of the Hon’ble Supreme Court in this matter. The Company made provision for said impairment during the year ended March 31, 2020 which has now been considered in year ended March 31, 2019 and reversal of said provision has

been made in year ended March 31, 2020.

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10.

11.

CHATURVEDI !" SHAH up Chartered Accountants

The Restated Standalone Financial Information do not reflect the effects of events that

occurred subsequent to the respective dates of the reports on audited Standalone

Financial Statements mentioned in paragraph 4 above.

This report should not in any way be construed as a reissuance or re-dating of any of the

previous audit reports issued by us, nor should this report be construed as a new opinion

on any of the financial statements referred to herein.

We have no responsibility to update our report for events and circumstances occurring

after the date of the report.

Our report is intended solely for use of the Board of Directors for inclusion in the Offer

Documents to be filed with Securities and Exchange Board of India, Relevant Stock

Exchanges and Registrar of Companies, Maharashtra at Mumbai in connection with the

proposed FPO. Our report should not be used, referred to, or distributed for any other

purpose except with our prior consent in writing. Accordingly, we do not accept or

assume any liability or any duty of care for any other purpose or to any other person to

whom this report is shown or into whose hands it may come without our prior consent in

writing.

For Chaturvedi & Shah LLP Chartered Accountants Firm’s Registration Number: 101720W / W100355

Vijay Napawaliya oe Partner au:

yn

Membership No: 109859 UDIN: 21109859AAAAEC8312

Place: Mumbai

Date: August 16, 2021


Ruchi Soya Industries Limited

Annexure - I

Restated Standalone Statement of Assets and Liabilities � in Lakh

I. ASSETS

(1) Non-current assets

(a) Property, plant and equipment 3 343,858.92 355,414.95 370,808.11

(b) Capital work-in-progress 3 2,683.08 2,520.39 2,691.30

(c) Intangible assets 4 151,585.66 151,585.40 151,589.30

(d) Financial Assets

(i) Investments 5(a) 1,863.06 737.63 1,450.55

(ii) Loans 5(b) 3,447.06 3,554.68 3,529.61

(iii) Others 5(c) 1,088.68 1,565.87 1,413.93

(e) Deferred Tax Asset 38 16,637.16 - -

(f) Other non-current assets 6 10,907.82 10,511.56 8,638.82

Total Non-current assets 532,071.44 525,890.48 540,121.62

(2) Current assets

(a) Inventories 7 236,336.49 135,461.49 126,085.13

(b) Financial Assets

(i) Investments 8(a) 1,176.11 1,281.03 1,679.35 (ii) Trade receivables 8(b) 43,842.23 27,399.28 26,223.61

(iii) Cash and cash equivalents 8(c) 4,627.05 15,379.99 15,802.32

(iv) Bank balances other than (iii) above 8(d) 34,042.15 30,146.21 27,201.25

(v) Loans 8(e) 112.34 120.15 113.13

(vi) Others 8(f) 924.92 345.83 363.57 (c) Other Current Assets 9 47,381.69 50,369.11 51,469.66

Assets Classified as held for Sale 10 367.56 367.56 367.56

Total Current assets 368,810.54 260,870.65 249,305.58

Total Assets 900,881.98 786,761.13 789,427.20

II. EQUITY AND LIABILITIES

Equity

(a) Equity share capital 11 5,915.29 5,915.29 6,529.41

(b) Other Equity 12 400,325.99 331,174.86 (458,608.56)

Total Equity 406,241.28 337,090.15 (452,079.15)

LIABILITIES(1) Non-Current Liabilities

(a) Financial Liabilities (i) Borrowings 13(a) 287,984.80 295,383.32 1,607.27

(ii) Other financial liabilities 13(b) 32,158.68 31,101.84 -

(b) Other non-current liabilities 14 449.09 500.80 552.69

(c) Provision 15 924.05 898.94 681.27

Total Non-Current Liabilities 321,516.62 327,884.90 2,841.23

(2) Current liabilities

(a) Financial Liabilities

(i) Borrowings 16(a) 61,025.20 63,029.93 727,980.20

(ii) Trade Payables

(a) Total Outstanding due to Micro and small enterprises. 16(b) 216.22 403.19 433.96

(b) Total Outstanding due to creditors other than Micro and small

enterprises.16(b) 65,841.10 16,086.30 222,426.19

(iii) Other financial liabilities 16(c) 39,709.91 31,126.33 277,036.26 (b) Other current liabilities 17 6,031.13 10,856.15 10,439.33 (c) Provisions 18 127.52 111.18 176.18 Liabilities directly associated with assets classified as held for sale 19 173.00 173.00 173.00

Total Current liabilities 173,124.08 121,786.08 1,238,665.12

Total Equity and Liabilities 900,881.98 786,761.13 789,427.20

The above statement should be read with Annexure - V and Annexure - VI to the Restated Standalone Financial Information.

As per our report of even date attached For and On Behalf of Board of Directors

For Chaturvedi and Shah LLPChartered Accountants

Registration No. 101720W/W100355

Sd/- Sd/- Sd/-

Vijay Napawaliya Acharya Balkrishna Ram Bharat

Partner Chairman Managing Director

Membership no. 109859 Place: Haridwar Place: Haridwar

Place: Mumbai DIN No. 01778007 DIN No. 01651754

Sd/- Sd/-

Sanjay Kumar Ramji Lal Gupta

Chief Financial Officer Company Secretary

Date: August 16, 2021 Place: Indore Place: Indore

Particulars Note no.

Annexure -

VI

As at

March 31, 2021

As at

March 31, 2020

As at

March 31, 2019


Annexure - II

� in Lakh

INCOME

I Revenue from Operations 20 1,631,863.30 1,311,778.81 1,272,923.31

II Other Income 21 6,434.41 5,757.75 10,002.25

III 1,638,297.71 1,317,536.56 1,282,925.56

IV EXPENSES

Cost of materials consumed 22 1,399,663.27 1,126,248.85 1,096,789.57

Purchases of Stock-in-Trade 23 51,802.45 38,683.09 35,535.68

Changes in inventories of finished goods, work-in-progress and stock in trade 24 (34,762.83) (7,601.19) 7,879.88

Employee Benefits Expense 25 13,963.01 15,270.81 15,118.96

Finance Costs 26 37,071.87 11,231.48 699.07

Depreciation & Amortisation Expenses 27 13,325.09 13,577.36 13,824.44

Provision for Doubtful Debts/ Advances, Expected credit loss, Write off (Net) 28 166.92 2,183.31 1,340.25

Other Expenses 29 105,627.91 96,904.47 104,065.70

1,586,857.69 1,296,498.18 1,275,253.55

V 51,440.02 21,038.38 7,672.01

VI Exceptional Items (Net) 30 - 749,023.01 (4,259.12)

VII 51,440.02 770,061.39 3,412.89

VIII Tax expense

Current Tax - - -

Deferred Tax (Credit) 38 (16,637.16) - -

Income Tax for earlier years written Back - (1,400.00) -

IX Profit for the years (VII-VIII) 68,077.18 771,461.39 3,412.89

X Other Comprehensive Income 31

(i) Items that will not be reclassified to statement of profit or loss 1,073.95 (644.50) (632.57)

(ii) Tax relating that will not be reclassified to profit or loss - - -

XI 69,151.13 770,816.89 2,780.32

XII Earnings per equity share of face value of � 2 each 40

a Basic (in =) 23.02 876.88 104.54

b Diluted (in =) 23.02 876.88 104.54



For Chaturvedi and Shah LLP

Chartered Accountants


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Restated Statement Of Standalone Profit And Loss

Basic and Diluted earnings per share

For the year ended

March 31, 2020

For the year ended

March 31, 2021

Particulars Note no.

Annexure

- VI

Total comprehensive income for the years (IX+X)

Profit before exceptional items and tax expenses (III-IV)

Profit before tax (V+VI)

Total Income ( I+II )

Total Expenses (IV)

For the year ended

March 31, 2019


Annexure - III

Restated Statement Of Standalone Changes in Equity (SOCIE)

a. Equity share capital in Lakh

No. of Shares Amount No. of Shares Amount No. of Shares Amount

Balance at the beginning of the reporting year 2,958.41 5,916.82 3,264.71 6,529.41 3,341.01 6,682.01

Less : Share Reduction during the year (Including Treasury Equity Shares) [Refer Note 32(d)] - - 3,231.30 6,462.59 - -

Add : Share issued during the year [Refer Note 32 (c)] - - 2,925.00 5,850.00 - -

2,958.41 5,916.82 2,958.41 5,916.82 3,341.01 6,682.01

0.76 1.53 0.76 1.53 76.30 152.60

Balance at the end of the reporting year 2,957.65 5,915.29 2,957.65 5,915.29 3,264.71 6,529.41

b. Other Equity

(i) As at March 31, 2021 [ Refer Note 12 ] � in Lakh

Capital

Redemption

Reserve

Securities Premium

account

General Reserve Capital Reserve Equity Instruments

through Other

Comprehensive

Income

Retained Earnings Total

Balance at the beginning of the reporting year 8,770.98 45,186.45 41,815.51 15,662.53 (9,954.07) 229,693.46 331,174.86

Profit for the year - - - - - 68,077.18 68,077.18

Other Comprehensive Income for the year 31 - - - - 1,125.45 (51.50) 1,073.95

Total comprehensive income for the year - - - - 1,125.45 68,025.68 69,151.13

Balance at the end of the reporting year 8,770.98 45,186.45 41,815.51 15,662.53 (8,828.62) 297,719.14 400,325.99

(ii) As at March 31, 2020 [ Refer Note 12 ] � in Lakh

Capital

Redemption

Reserve

Securities Premium

Account


through Other

Comprehensive

Income

Retained Earnings

Total

Balance at the beginning of the reporting year 8,770.98 45,186.45 41,815.51 3,328.75 (9,591.30) (548,118.95) (458,608.56)

Profit/( Loss) for the year - - - - - 771,461.39 771,461.39

Other Comprehensive Income for the year 31 - - - - (362.77) (281.73) (644.50)

Total comprehensive income for the year - - - - (362.77) 771,179.66 770,816.89

Other changes during the year

(i) Arising pursuant to amalgamation [Refer Note 32(g)] 12,333.78 - - 12,333.78

(ii) Reduction in equity and preference share capital [Refer Note 32(d)] - - - - - 6,632.75 6,632.75

Balance at the end of the reporting year 8,770.98 45,186.45 41,815.51 15,662.53 (9,954.07) 229,693.46 331,174.86

March 31, 2019March 31, 2021 March 31, 2020

Less : 76,301 ( Previous year March, 2020 76,301 and March, 2019 76,30,115 Treasury

Equity Shares) [Refer Note 11(f)]

Particulars

Note

Reference

Reserves and Surplus

Reserves and Surplus

Note

Reference

Particulars

(iii) As at March 31, 2019 [ Refer Note 12 ] � in Lakh

Capital

Redemption

Reserve

Share Options

Outstanding Account

Securities

Premium Account


through Other

Comprehensive

Income

Retained Earnings

Total

Balance at the beginning of the reporting year 8,770.98 39.53 45,186.45 41,775.98 3,328.75 (9,119.42) (551,371.15) (461,388.88)

Profit/( Loss) for the year - - - - - - 3,412.89 3,412.89

Other Comprehensive Income for the year 31 - - - - - (471.88) (160.69) (632.57)

Total comprehensive income for the year - - - - - (471.88) 3,252.20 2,780.32

Transactions with the owners in their capacity as the owners

- Employee Stock option expenses 12 B - (39.53) - - - - - (39.53)

Other changes during the year

- Add/Less: Movement during the Year 12 D - - - 39.53 - - - 39.53

Balance at the end of the reporting year 8,770.98 - 45,186.45 41,815.51 3,328.75 (9,591.30) (548,118.95) (458,608.56)



Chartered AccountantsRegistration No. 101720W/W100355

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Partner Chairman Managing DirectorMembership no. 109859 Place: Haridwar Place: HaridwarPlace: Mumbai DIN No. 01778007 DIN No. 01651754

Sd/- Sd/-




Particulars Reserves and SurplusNote

Reference



Annexure - IV

� in Lakh

For the year ended

March 31, 2021

For the year ended

March 31, 2020

For the year ended

March 31, 2019

(A) Cash flow from operating activities

Profit before tax 51,440.02 770,061.39 3,412.89

Adjustments for:

Depreciation and Amortisation Expenses 13,325.09 13,577.36 13,824.44

Exceptional Items - (749,023.01) 4,259.12

Net Loss on Sale/Discard of Fixed Assets 66.38 443.70 414.83

Impairment on investments and Fair value adjustments (net) 128.76 492.63 266.87

Interest Income (3,769.32) (3,200.64) (1,162.13)

Finance costs 37,071.87 11,231.48 699.07

(Gain)/Loss on foreign currency transaction/translation 270.54 934.54 1,351.84

Provision for doubtful debt / advances, expected credit loss, write off (Net) 166.92 2,183.31 1,340.25

(Gain)/loss on sale of Investment (49.38) (6.02) (359.74)

Income of investment (116.40) (102.68) (89.80)

Excess Provision/Liabilities no longer required written back (146.08) (687.80) (5,130.70)

Operating profit before working capital changes 98,388.40 45,904.26 18,826.94

Working capital adjustments

(Increase)/ Decrease in inventories (100,875.00) (9,376.36) (6,978.78)

(Increase)/ Decrease in trade and other receivables (11,956.15) 43.11 (2,442.47)

Increase/ (Decrease) in trade and other payables 39,679.93 (42,313.82) 12,426.74

Cash generated from operations 25,237.18 (5,742.81) 21,832.43

Income Tax (510.64) (344.82) 1,923.33

Net cash flows from operating activities 24,726.54 (6,087.63) 23,755.76

(B) Cash flow from investing activities

Payment for Purchase and Construction of CWIP, Property, Plant and Equipment (2,134.06) (1,936.69) (850.03)

Proceeds on account of Capital reduction - - 1,632.00

Proceed from sale of investment 100.70 - -

Proceed from disposal of fixed assets 86.87 6.61 136.35

(Increase)/ Decrease in Other Balance with Banks (3,457.05) (3,005.44) (13,259.10)

Interest income 1,005.46 2,358.33 1,162.13

Dividend received - - -

Net cash flows from investing activities (4,398.08) (2,577.19) (11,178.65)

(C) Cash flow from financing activities

Proceeds from equity share capital - 20,475.00 -

Proceeds from preference share capital - 45,000.00 -

Proceeds from debentures - 45,000.00 -

Proceeds from long term borrowings 8,000.00 240,000.00 -

Proceeds from short term borrowings (Net) (2,004.73) 63,029.93 -

Repayment of long term borrowings (3,437.39) - -

Repayment of long term borrowings pursuant to completion of CIRP - (30,314.70) -

Repayment of short term borrowings pursuant to completion of CIRP - (367,388.25) -

Finance Cost (33,592.83) (7,499.44) (476.13)

Payment of unclaimed dividends (5.77) (4.91) -

Payment of lease liability (40.68) (55.13) -

Net cash flows from financing activities (31,081.40) 8,242.50 (476.13)

Net increase / (decrease) in cash and cash equivalents (10,752.94) (422.33) 12,100.98

Cash and cash equivalents at the beginning of the year 15,379.99 15,802.32 3,701.34

Cash and cash equivalents at the end of the year 4,627.05 15,379.99 15,802.32

Reconciliation of Cash and Cash equivalents with the Balance Sheet

Cash and Bank Balances as per Balance Sheet [Note 8c]

Cash in hand 38.85 39.64 45.30

In Current Accounts 4,415.81 6,008.78 6,678.86

In Deposit Accounts with less than or equal to 3 months maturity 172.39 9,331.57 9,078.16

4,627.05 15,379.99 15,802.32

Notes:

2. Previous years figure have been regrouped and rearranged wherever necessary to ensure that comparable with those of current period.

3. The above restated statement of cash flow has been prepared under the indirect method as set out in Ind AS 7 "Statement of Cash Flow".

Particulars

Restated Statement of Standalone Cash flows

1. For the purpose of above cash flow money received by special purpose vehicle (Patanjali Consortium Adhigrahan Private Limited) and paid by the company

pursuant to resolution plan has been considered for the year ended March 31, 2020.

Cash and Cash equivalents as restated as at the year end

� in Lakh

For the year ended

March 31, 2021

For the year ended

March 31, 2020

For the year ended

March 31, 2019

391,339.68 785,632.60 716,825.48

2,557.88 (4,673.02) -

- - 68,797.60

(930.23) (1,690.25) 9.52

- (387,929.65) -

392,967.33 391,339.68 785,632.60



Chartered Accountants


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Changes in Liabilities arising from financing activities on account of Non-Current (Including Current Maturities and other liabilities of

preference shares) and Current Borrowings

Ind- AS adjustment

Exceptional items written back

CLOSING BALANCE OF LIABILITIES ARISING FROM FINANCING ACTIVITIES

Particulars

OPENING BALANCE OF LIABILITIES ARISING FROM FINANCING ACTIVITIES

Cash Flows

Devolvement of Letter of Credit


Annexure - V

Basis of preparation and significant accounting policies to the Restated Standalone financial information

Note 1-2

1 CORPORATE INFORMATION

Ruchi Soya Industries Limited (‘the Company’) is a public limited company engaged primarily in the business of processing of oil-seeds

and refining of crude oil for edible use. The Company also produces oil meal, food products from soya and value added products from

downstream and upstream processing. The Company is also engaged in trading in various products and generation of power from wind

energy. The Company has manufacturing plants across India and is listed on the BSE Limited and National Stock Exchange of India

Limited (NSE). The Company’s registered office is at Ruchi House, Royal Palms, Survey No. 169, Aarey Milk Colony, Near Mayur Nagar,

Goregaon (E), Mumbai – 400065, Maharashtra.

2 BASIS OF PREPARATION AND SIGNIFICANT ACCOUNTING POLICIES

(A) BASIS OF PREPARATION

a Statement of Compliance

The Restated Standalone Financial Information of the Company comprises of the Restated Standalone Statements of Assets and

Liabilities as at March 31, 2021, March 31, 2020 and March 31, 2019 and the Restated Standalone Statement of Profit and Loss

(including Other Comprehensive Income), the Restated Standalone Statement of Changes in Equity and the Restated Standalone

Statement of Cash flows for the year ended March 31, 2021 and for the year ended March 31, 2020 and March 31, 2019, the Basis of

preparation and significant accounting policies and the Statement of Notes to the Restated Standalone Financial Information (hereinafter

collectively referred to as ‘Restated Standalone Financial Information’).

The Restated Standalone Financial Information was approved by the Board of Directors of the Company in their meeting held on August

16, 2021.

The Restated Standalone Financial Information has been prepared for inclusion in the Offer Documents to be filed by the Company with

the Securities and Exchange Board of India (‘SEBI’) and Registrar of Companies ('ROC') Mumbai, Maharashtra in connection with

proposed further public offering of its equity shares, in accordance with the requirements of:

- Section 26 of Part I of Chapter III of the Companies Act, 2013 (the “Act").

- Relevant provisions of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018,

as amended issued by the Securities and Exchange Board of India ('SEBI') in pursuance of the Securities and Exchange Board of India

Act, 1992; and

- The Guidance Note on Reports in Company Prospectuses (Revised 2019) issued by the Institute of Chartered Accountants of India

(“ICAI”), as amended from time to time (the “Guidance Note”).

The Restated Standalone Financial Information have been compiled from annual audited standalone financial statements for the years

ended March 31, 2021, March 31, 2020 and March 31, 2019 prepared in accordance with Indian Accounting Standards ("Ind AS")

notified under the Companies (Indian Accounting Standards) Rules, 2015 (as amended) read with Section 133 of the Companies Act,

2013 (the “Act”) and other relevant provisions of the Act to the extent applicable. (hereinafter collectively referred to as “Audited

Standalone Financial Statements”).

The Restated Standalone Financial Information has been compiled by the Management from the Audited Standalone Financial

Statements for respective years and:

- refer Note no. 45 in respect of audit qualification on these Audited Standalone Financial Statements;

- there were no changes in accounting policies during the respective years of these financial statements except for the new and

amended Ind AS-116- 'Leases' adopted from April 01, 2019; Further, on April 01, 2018 the Company adopted Ind AS 115 "Revenue

from Contracts with Customers". Refer note 2 (B) k for the accounting policies followed pursuant to adoption of Ind AS 115. The

adoption of Ind AS 115 did not have any material impact.

- there were no material adjustments for previous years in arriving at loss/profit of the respective years;

- appropriate regroupings have been made in the Restated Standalone Financial Information of assets and liabilities, statement of profit

and loss and statement of cash flow, wherever required, by reclassification of the corresponding items of income, expenses, assets,

liabilities and cash flows, in order to bring them in line with the accounting policies and classification as per the annual audited

standalone financial statement of the Company for the year ended March 31, 2021 prepared in accordance with Schedule III of

Companies Act, 2013, requirements of Ind AS 1 and other applicable Ind AS principles and the requirements of the Securities and

Exchange Board of India (Issue of Capital & Disclosure Requirements) Regulations, 2018, as amended.

b Functional and presentation currency

These financial statements are presented in Indian Rupees (=), which is the Company’s functional currency. All amounts have been

rounded to the nearest lakh, unless otherwise indicated.

c Basis of Measurement

These financial statements have been prepared on a historical cost convention basis, except for the following:

(i) Certain financial assets and liabilities that are measured at fair value.

(ii) Assets held for sale- Measured at the lower of (a) carrying amount and (b) fair value less cost to sell.

(iii) Net defined benefit plans- Plan assets measured at fair value less present value of defined benefit obligation.


Annexure - V


Determining the Fair Value

While measuring the fair value of an asset or a liability, the Company uses observable market data as far as possible. Fair values are

categorised into different levels in a fair value hierarchy based on the inputs used in the valuation techniques as follows.

Level 1 : Quoted prices (unadjusted) in active markets for identical assets or liabilities.

Level 2 : inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly (i.e. as prices)

or indirectly (i.e. derived from prices).

Level 3 : inputs for the asset or liability that are not based on observable market data (unobservable inputs).

If the inputs used to measure the fair value of an asset or a liability fall into different levels of the fair value hierarchy, then the fair value

measurement is categorised in its entirety in the same level of the fair value hierarchy as the lowest level input that is significant to the

entire measurement.

d CRITICAL ACCOUNTING JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY

The preparation of the financial statements in conformity with Ind AS requires management to make judgements, estimates and

assumptions that affect the application of accounting policies and the reported amounts of assets, liabilities, income, expenses and

disclosures of contingent assets and liabilities at the date of these financial statements and the reported amounts of revenues and

expenses for the years presented.

These judgments and estimates are based on management’s best knowledge of the relevant facts and circumstances, having regard to

previous experience, but actual results may differ materially from the amounts included in the financial statements.

Estimates and underlying assumptions are reviewed on an on-going basis. Revisions to accounting estimates are recognised in the

period in which the estimate is revised and future periods affected.

The information about significant areas of estimation uncertainty and critical judgments in applying accounting policies that have the

most significant effect on the amounts recognized in the financial statements are as given below:-

1 Impairment test of non financial assets

The Company assesses at each reporting date whether there is an indication that an asset may be impaired. If any indication exists, or

when annual impairment testing for an asset is required, the Company estimates the asset’s recoverable amount. An asset’s recoverable

amount is the higher of an asset’s or Cash Generating Units (CGU) fair value less costs of disposal and its value in use. It is determined

for an individual asset, unless the asset does not generate cash inflows that are largely independent to those from other assets or

groups of assets. Where the carrying amount of an asset or CGU exceeds its recoverable amount, the asset is considered impaired and

is written down to its recoverable amount.

In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that

reflects current market assessments of the time value of money and the risks specific to the asset. In determining fair value less cost of

disposal, recent market transactions are taken into account. If no such transactions can be identified, an appropriate valuation model is

used. These calculations are corroborated by valuation multiples or other available fair value indicators.2 Allowance for bad debts / expected credit loss

The Management makes estimates related to the recoverability of receivables, whose book values are adjusted through an allowance for

Expected losses/ Provision for Doubtful debts. Management specifically analyses accounts receivable, customers’ creditworthiness,

current economic trends and changes in customer’s collection terms when assessing the adequate allowance for Expected losses/

Provision for Doubtful debts, which are estimated over the lifetime of the debts.

3 Recognition and measurement of Provisions and Contingencies

Provisions and liabilities are recognized in the year when it becomes probable that there will be a future outflow of funds resulting from

past operations or events and the amount of cash outflow can be reliably estimated. The timing of recognition and quantification of the

liability require the application of judgement to existing facts and circumstances, which can be subject to change. Since the cash

outflows can take place many years in the future, the carrying amounts of provisions and liabilities are reviewed regularly and adjusted

to take account of changing facts and circumstances.

Contingencies

In the normal course of business, contingent liabilities may arise from litigation, taxation and other claims against the Company. Where it

is management’s assessment that the outcome cannot be reliably quantified or is uncertain, the claims are disclosed as contingent

liabilities unless the likelihood of an adverse outcome is remote. Such liabilities are disclosed in the notes but are not provided for in the

financial statements. When considering the classification of legal or tax cases as probable, possible or remote, there is judgement

involved. Although there can be no assurance regarding the final outcome of the legal proceedings, the Company does not expect them

to have a materially adverse impact on the Company’s financial position.

4 Recognition of Deferred Tax Assets

During the year ended March 31, 2021, the Company has recognised deferred tax assets mainly on carried forward tax losses and

unabsorbed depreciation incurred by the Company in earlier years. Based on future business projections, the Company is reasonably

certain that it would be able to generate adequate taxable income to ensure utilization of carried forward tax losses and unabsorbed

depreciation.

5 Measurements of Defined benefit obligations plan

The cost of the defined benefit plan and other post-employment benefits and the present value of such obligation are determined using

actuarial valuations. An actuarial valuation involves making various assumptions that may differ from actual developments in the future.

These include the determination of the discount rate, future salary increases, mortality rates and attrition rate. Due to the complexities

involved in the valuation and its long-term nature, a defined benefit obligation is highly sensitive to changes in these assumptions. All

assumptions are reviewed at each reporting date.


Annexure - V


6 Impairment of financial assets

The impairment provisions for financial assets are based on assumptions about risk of default and expected cash loss. The Company

uses judgement in making these assumptions and selecting the inputs to the impairment calculation, based on Company’s past history,

existing market conditions as well as forward looking estimates at the end of each reporting year.

7 Income Taxes

There are transactions and calculations for which the ultimate tax determination is uncertain and would get finalized on completion of

assessment by tax authorities. Where the final tax outcome is different from the amounts that were initially recorded, such differences

will impact the income tax and deferred tax in the year in which such determination is made.

8 Depreciation / Amortisation and useful lives of Property Plant and Equipment (PPE) / Intangible Assets: -

PPE / intangible assets are depreciated / amortised over their estimated useful lives, after taking into account estimated residual value.

Management reviews the estimated useful lives and residual values of the assets annually in order to determine the amount of

depreciation to be recorded during any reporting period. The useful lives and residual values are based on the Company’s historical

experience with similar assets and take into account anticipated technological changes. The depreciation /amortisation for future periods

are revised if there are significant changes from previous estimates.

9 Global health pandemic on Covid-19:- The outbreak of corona virus (COVID-19) pandemic globally and in India is causing

significant disturbance and slowdown of economic activity. In assessing the recoverability of Company’s assets such as financial asset

and non-financial assets, the Company has considered internal and external information. The Company has evaluated impact of this

pandemic on its business operations and based on its review and current indicators of future economic conditions, there is no significant

impact on its financial statements and the Company expects to recover the carrying amount of all the assets.

10 Exceptional items :- Exceptional items are those items that management considers, by virtue of their size or incidence, should be

disclosed separately to ensure that the financial information allows an understanding of the underlying performance of the business in

the year, so as to facilitate comparison with prior periods. Such items are material by nature or amount to the year’s result and / or

require separate disclosure in accordance with Ind AS. The determination as to which items should be disclosed separately requires a

degree of judgement. The details of exceptional items are set out in note 30.

e Current and non-current classification

The Company presents assets and liabilities in statement of financial position based on current/non-current classification. The Company

has presented non-current assets and current assets before equity, non-current liabilities and current liabilities in accordance with

Schedule III, Division II of Companies Act, 2013 notified by MCA.

An asset is classified as current when it is:

(a) Expected to be realised or intended to be sold or consumed in normal operating cycle,

(b) Held primarily for the purpose of trading,

(c) Expected to be realised within twelve months after the reporting year, or

(d) Cash or cash equivalent unless restricted from being exchanged or used to settle a liability for at least twelve months after the reporting

year.

All other assets are classified as non-current.

A liability is classified as current when it is:

(a) Expected to be settled in normal operating cycle,

(b) Held primarily for the purpose of trading,

(c) Due to be settled within twelve months after the reporting year, or

(d) There is no unconditional right to defer the settlement of the liability for at least twelve months after the reporting year.

The Company classifies all other liabilities as non-current.

The operating cycle is the time between the acquisition of assets for processing and their realisation in cash or cash equivalents.

Deferred tax assets and liabilities are classified as non-current assets and liabilities. The Company has identified twelve months as its

normal operating cycle.

(B) SIGNIFICANT ACCOUNTING POLICIES

a PROPERTY, PLANT AND EQUIPMENT:

(i) Recognition and measurement

Property, Plant and equipment are measured at cost (which includes capitalised borrowing costs) less accumulated depreciation and

accumulated impairment losses, if any.

The cost of an item of property, plant and equipment comprises:

a) its purchase price, including import duties and non-refundable purchase taxes, after deducting trade discounts and rebates.

b) any costs directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the

manner intended by the management.

c) the initial estimate of the costs of dismantling and removing the item and restoring the site on which it is located.

If significant parts of an item of property, plant and equipment have different useful lives, then they are accounted for as separate items

(major components) of property, plant and equipment and depreciated accordingly.

Any gain or loss on disposal of an item of property, plant and equipment is recognised in Statement of profit or loss.

Capital work-in-progress includes cost of property, plant and equipment under installation / under development as at the balance sheet

date.

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Annexure - V


Leasehold lands are amortised over the period of lease. Buildings constructed on leasehold land are depreciated based on the useful life

specified in schedule II to the Companies Act, 2013, where the lease period of land is beyond the life of the building. In other cases,

buildings constructed on leasehold lands are amortised over the primary lease period of the lands.

(ii) On transition to Ind AS as on April 1, 2015 the Company has elected to measure certain items of Property, Plant and Equipment

[Freehold Land, Building and Plant and Equipment's] at Fair Value and for other Property, Plant and Equipment these are measure at

cost as per Ind AS. The same are considered as deemed cost on the date of transition to Ind AS.

(iii) Subsequent expenditure

Subsequent expenditure is capitalised only if it is probable that the future economic benefits associated with the expenditure will flow to

the Company.

(iv) Depreciation, Estimated useful life and Estimated residual value

Depreciation is calculated using the Straight Line Method, pro rata to the period of use, taking into account useful lives and residual

value of the assets. The useful life of assets & the estimated residual value, which are different from those prescribed under Schedule II

to the Companies Act, 2013, are based on technical advice as under:

Assets Estimated useful life's Estimated Residual Value

Building 3 to 60 years 2 to 5 Percent

Plant & Equipment's 5 to 40 years 3 to 25 Percent

Windmills 30 years 19 PercentFurniture and Fixture 5 to 10 years As per Schedule IIMotor Vehicles 7 to 8 years As per Schedule II

Depreciation is computed with reference to cost. Depreciation on additions during the year is provided on pro rata basis with reference

to month of addition/installation. Depreciation on assets disposed/discarded is charged up to the date of sale excluding the month in

which such assets is sold.

The assets residual value and useful life are reviewed and adjusted, if appropriate, at the end of each reporting year. Gains and losses

on disposal are determined by comparing proceeds with carrying amounts. These are included in the statement of Profit and Loss.

b INTANGIBLE ASSETS

Identifiable intangible assets are recognised when it is probable that future economic benefits attributed to the asset will flow to the

Company and the cost of the asset can be reliably measured.

Gains or losses arising from derecognition of an intangible asset are measured as the difference between the net disposal proceeds and

the carrying amount of the asset and are recognised in the statement of profit and loss when the asset is derecognised.

(i) Recognition and measurement

Computer software's have finite useful lives and are measured at cost less accumulated amortisation and any accumulated impairment

losses.

Acquired brands / Trademarks have indefinite useful life and as on transition date April 1, 2015 have been Fair valued based on reports

of expert valuer, which is considered as deemed cost on transition to Ind AS. The same are tested for impairment, if any , at the end of

each accounting year.

(ii) Subsequent expenditure

Subsequent expenditure is capitalised only when it increases the future economic benefits embodied in the specific asset to which it

relates. All other expenditure, including expenditure on internally generated goodwill and brands, when incurred is recognised in

statement of profit or loss.

(iii) Amortisation

Amortisation is calculated to write off the cost of intangible assets less their estimated residual values using the straight-line method over

their estimated useful lives and is generally recognised in statement of profit or loss. Computer software are amortised over their

estimated useful life or 5 years, whichever is lower.

Amortisation methods, useful lives and residual values are reviewed at each reporting date and adjusted, if required.

c Impairment of assets

An asset is considered as impaired when at the date of Balance Sheet, there are indications of impairment and the carrying amount of

the asset, or where applicable, the cash generating unit to which the asset belongs, exceeds its recoverable amount (i.e. the higher of

the net asset selling price and value in use).The carrying amount is reduced to the recoverable amount and the reduction is recognized

as an impairment loss in the statement of profit and loss. The impairment loss recognized in the prior accounting period is reversed if

there has been a change in the estimate of recoverable amount. Post impairment, depreciation is provided on the revised carrying value

of the impaired asset over its remaining useful life.

d FINANCIAL INSTRUMENTS

A financial instrument is any contract that gives rise to a financial asset of one Company and a financial liability or equity instrument of

another Company. Financial instruments also include derivative contracts such as foreign currency foreign exchange forward contracts,

interest rate swaps and currency options.

(i) Financial assetsInitial recognition and measurement

All financial assets are initially recognized at fair value. Transaction costs that are directly attributable to the acquisition or issue of

financial assets, which are not at fair value through profit or loss, are adjusted to the fair value on initial recognition. Financial assets are

classified, at initial recognition, as financial assets measured at fair value or as financial assets measured at amortised cost.


Annexure - V


Subsequent Measurement

Financial Assets measured at Amortised Cost (AC)

A Financial Asset is measured at Amortised Cost if it is held within a business model whose objective is to hold the asset in order to

collect contractual cash flows and the contractual terms of the Financial Asset give rise on specified dates to cash flows that represent

solely payments of principal and interest on the principal amount outstanding.

Financial Assets measured at Fair Value Through Other Comprehensive Income (FVTOCI)

A Financial Asset is measured at FVTOCI if it is held within a business model whose objective is achieved by both collecting contractual

cash flows and selling Financial Assets and the contractual terms of the Financial Asset give rise on specified dates to cash flows that

represents solely payments of principal and interest on the principal amount outstanding.

Financial Assets measured at Fair Value Through Profit or Loss (FVTPL)

A Financial Asset which is not classified in any of the above categories are measured at FVTPL. Financial assets are reclassified

subsequent to their recognition, if the Company changes its business model for managing those financial assets. Changes in business

model are made and applied prospectively from the reclassification date which is the first day of immediately next reporting period

following the changes in business model in accordance with principles laid down under Ind AS 109 – Financial Instruments.

In case of investments

In Equity instruments

- For subsidiaries , associates and Joint ventures - Investments are measured at cost and tested for impairment periodically. Impairment

(if any) is charged to the Statement of Profit and Loss.

- For Other than subsidiaries , associates and Joint venture - Investments are measured at Fair value through Other Comprehensive

Income [FVTOCI].

In Mutual fund

Measured at Fair value through Profit and Loss (FVTPL).

Guarantee Commission

Guarantees extended to subsidiaries, associates and Joint ventures are Fair Valued.

Debt instruments

The Company measures the debt instruments at Amortised Cost. Assets that are held for collection of contractual cash flows where

those cash flows represent solely payment of principal and interest [SPPI] are measured at amortised cost. A gain or loss on a debt

investment that is subsequently measured at amortised cost and is not part of the hedging relationship, is recognised in profit or loss

when the asset is derecognised or impaired. Interest income from these financial assets is included in finance income using the Effective

interest rate method.

Derecognition of financial assets

The Company derecognises a financial asset when the contractual rights to cash flows from the asset expire, or it transfers the rights to

receive the contractual cash flows on the financial asset in a transaction in which substantially all the risks and rewards of ownership of

the financial asset are transferred.

Impairment of financial assets

In accordance with Ind-AS 109, the Company applies Expected Credit Loss (ECL) model for measurement and recognition of impairment

loss on the following financial asset and credit risk exposure:

a) Financial assets that are debt instruments and are measured at amortised cost e.g., loans, debt securities, deposits, and bank

balance.

b) Trade receivables

The Company follows ‘simplified approach’ for recognition of impairment loss allowance on:

- Trade receivables which do not contain a significant financing component.

The application of simplified approach does not require the Company to track changes in credit risk. Rather, it recognises impairment

loss allowance based on lifetime ECLs at each reporting date, right from its initial recognition.

- For recognition of impairment loss on other financial assets and risk exposure, the Company determines that whether there has been

a significant increase in the credit risk since initial recognition. Expected Credit Loss Model is used to provide for impairment loss.

(ii) Financial liabilities

Classification

The Company classifies its financial liabilities in the following measurement categories:

- those to be measured subsequently at fair value through profit and loss-[FVTPL]; and

- those measured at amortised cost. [AC]

The classification depends on the Company's business model for managing the financial assets and the contractual terms of the cash

flows.

Initial recognition and measurement

Financial liabilities are classified, at initial recognition, as financial liabilities at fair value through profit or loss or at amortised cost.

All financial liabilities are recognised initially at fair value and, in the case of loans and borrowings and payables, net of directly

attributable transaction costs.


Annexure - V


The Company’s financial liabilities include trade and other payables, loans and borrowings including bank overdrafts, financial guarantee

contracts and derivative financial instruments.

Subsequent measurementFinancial liabilities are subsequently carried at amortized cost using the effective interest method. For trade and other payables maturing

within one year from the balance sheet date, the carrying amounts are approximate at their fair value due to the short maturity of these

instruments.

Financial liabilities at fair value through profit or loss [FVTPL]

Financial liabilities at fair value through profit or loss [FVTPL] include financial liabilities designated upon initial recognition as at fair value

through profit or loss. Financial liabilities are classified as held for trading if they are incurred for the purpose of repurchasing in the near

term. This category also includes derivative financial instruments entered into by the Company that are not designated as hedging

instruments in hedge relationships as defined by Ind-AS 109. Separated embedded derivatives are also classified as held for trading

unless they are designated as effective hedging instruments.

Gains or losses on liabilities held for trading are recognised in the profit or loss.

Financial liabilities designated upon initial recognition at fair value through profit or loss are designated at the initial date of recognition,

only if the criteria in Ind-AS 109 are satisfied. For liabilities designated as FVTPL, fair value gains/ losses attributable to changes in own

credit risk are recognized in OCI. These gains/loss are not subsequently transferred to statement of profit or loss. However, the

Company may transfer the cumulative gain or loss within equity. All other changes in fair value of such liability are recognised in the

statement of profit or loss.

Loans and borrowings Borrowings are initially recognised at fair value, net of transaction costs incurred. Any difference between the proceeds (net of

transaction costs) and the redemption amount is recognised in profit or loss over the period of borrowings using the effective interest

method. Processing/Upfront fee are treated as prepaid asset netted of from borrowings. The same is amortised over the period of the

facility to which it relates.

After initial recognition, interest-bearing loans and borrowings are subsequently measured at amortised cost. Gains and losses are

recognised in profit or loss when the liabilities are derecognised as well as through the EIR amortisation process.

Amortised cost is calculated by taking into account any discount or premium on acquisition and fees or costs that are an integral part of

the EIR. The EIR amortisation is included as finance costs in the statement of profit and loss.

This category generally applies to interest-bearing loans and borrowings.

Borrowings are derecognised from the balance sheet when the obligation specified in the contract is discharged, cancelled or expired.

The difference between the carrying amount of the financial liability that has been extinguished or transferred to another party and the

consideration paid including any non cash assets transferred or liability assumed, is recognised in Statement of profit or loss as other

gains or (losses).

Borrowings are classified as current liabilities unless the Company has an unconditional right to defer the settlement of liabilities for at

least twelve months after the reporting year.

Where there is a breach of a material provision of a long term loan arrangement on or before the end of the reporting period with the

effect that the liability becomes payable on demand on the reporting date, the same is classified as current unless the lender agreed,

after the reporting year and before the approval of financial statements for issue, not to demand payment as a consequence of the

breach.

Trade and other payable

These amounts represent liabilities for goods and services provided to the Company prior to the end of financial year which are unpaid

at the year end. Trade and other payables are presented as current liabilities unless payment is not due within 12 months after the

reporting year. They are recognised initially at their fair value and subsequently measured at amortised cost using the effective interest

method.

Derecognition

A financial liability is derecognised when the obligation under the liability is discharged or cancelled or expires. When an existing financial

liability is replaced by another from the same lender on substantially different terms, or the terms of an existing liability are substantially

modified, such an exchange or modification is treated as the derecognition of the original liability and the recognition of a new liability.

The difference in the respective carrying amounts is recognised in the statement of profit or loss.

Offsetting of financial instruments

Financial assets and financial liabilities are offset and the net amount is reported in the balance sheet if there is a currently enforceable

legal right to offset the recognised amounts and there is an intention to settle on a net basis, to realise the assets and settle the

liabilities simultaneously. The legally enforceable right must not be contingent on future events and must be enforceable in the normal

course of business and in the event of default, insolvency or bankruptcy of the Company or the counterparty.

Derivative financial instruments

The Company uses derivative financial instruments, such as forward currency contracts, futures, interest rate swaps, forward commodity

contracts and other derivative financial instruments to hedge its foreign currency risks, interest rate risks and commodity price risks

respectively. Such derivative financial instruments are initially recognised at fair value on the date on which a derivative contract is

entered into and are subsequently re-measured at fair value. Derivatives are carried as financial assets when the fair value is positive

and as financial liabilities when the fair value is negative.


Annexure - V


Financial guarantee contracts

Financial guarantee contracts issued by the Company are those contracts that require a payment to be made to reimburse the holder for

a loss it incurs because the specified debtor fails to make a payment when due in accordance with the terms of a debt instrument.

Financial guarantee contracts are recognised initially as a liability at fair value, adjusted for transaction costs that are directly attributable

to the issuance of the guarantee. Subsequently, the liability is measured at the higher of the amount of loss allowance determined and

the amount recognised less cumulative amortisation.

e INVENTORIES

Inventories are measured at the lower of cost and net realisable value after providing for obsolence, if any, except for Stock-in-Trade

[which are measured at Fair value] and Realisable by-products [which are measured at net realisable value]. The cost of inventories is

determined using the weighted average method and includes expenditure incurred in acquiring inventories, production or conversion and

other costs incurred in bringing them to their respective present location and condition. In the case of manufactured inventories and

work in progress, cost includes an appropriate share of production overheads based on normal operating capacity. The comparison of

cost and Net Realisable value is made on an item by item basis.

Net realisable value is estimated selling price in the ordinary course of business, less estimated cost of completion and the estimated

costs necessary to make the sale. The net realisable value of work in progress is determined with reference to selling prices of finished

products.

f CASH AND CASH EQUIVALENT

For the purpose of presentation in the statement of the cash flows, cash and cash equivalent includes the cash on hand, deposits held

at call with financial institutions other short term, highly liquid investments with original maturity of three months or less that are readily

convertible to known amounts of cash and which are subject to an insignificant risk of changes in value.

Cash flows are reported using the indirect method, whereby profit before tax is adjusted for the effects of transactions of non-cash

nature and any deferrals or accruals of past or future cash receipts or payments. The cash flows from operating, investing and financing

activities of the Company are segregated based on the available information.

g CONTRIBUTED EQUITY

Equity shares are classified as equity. Incidental costs directly attributable to the issue of new shares or options are shown in equity as a

deduction, net of tax, from the proceeds.

h Dividends

Annual dividend distribution to the shareholders is recognised as a liability in the period in which the dividends are approved by the

shareholders. Any interim dividend paid is recognised on approval by Board of Directors. Dividend payable and corresponding tax on

dividend distribution is recognised directly in other equity.

i Earnings per share

(i) Basic earnings per share

Basic earnings per shares is calculated by dividing Profit/(Loss) attributable to equity holders (adjusted for amounts directly charged to

Reserves) before/after Exceptional Items (net of tax) by Weighted average number of Equity shares, (excluding treasury shares).

(ii) Diluted earnings per share

Diluted earnings per shares is calculated by dividing Profit/(Loss) attributable to equity holders (adjusted for amounts directly charged to

Reserves) before/after Exceptional Items (net of tax) by Weighted average number of Equity shares (excluding treasury shares)

considered for basic earning per shares including dilutive potential Equity shares.

j FOREIGN CURRENCY

(i) Foreign currency transactions

Transactions in foreign currencies are translated into the functional currencies of the Company at the exchange rate prevailing at the

date of the transactions. Monetary assets (other then investments in companies registered outside India) and liabilities denominated in

foreign currencies are translated into the functional currency at the exchange rate at the reporting date.

Investments in companies registered outside India are converted at rate prevailing at the date of acquisition. Non-monetary assets and

liabilities that are measured at fair value in a foreign currency are translated into the functional currency at the exchange rate when the

fair value was determined. Non-monetary items that are measured based on historical cost in a foreign currency are not translated.

Difference on account of changes in foreign currency are generally charged to the statement of profit & loss except the following:

The Company has availed the exemption available under Para D13AA of Ind AS - 101 of "First time adoption of Indian Accounting

Standards". Accordingly, exchange gains and losses on foreign currency borrowings taken prior to April 1, 2016 which are related to the

acquisition or construction of qualifying assets are adjusted in the carrying cost of such asset.

k Revenue recognition

The Company derives revenues primarily from sale of manufactured goods, traded goods and related services. The Company also

derives revenue from power generation through wind energy.

(i) Sale of Goods/ Services

Revenue from contracts with customers is recognised when control of the goods or services are transferred to the customer at an

amount that reflects the consideration entitled in exchange for those goods or services. Generally, control is transfer upon shipment of

goods to the customer or when the goods is made available to the customer, provided transfer of title to the customer occurs and the

Company has not retained any significant risks of ownership or future obligations with respect to the goods shipped.


Annexure - V


Revenue from rendering of services is recognised over the time by measuring the progress towards complete satisfaction of

performance obligations at the reporting period.

Revenue is measured at the amount of consideration which the Company expects to be entitled to in exchange for transferring distinct

goods or services to a customer as specified in the contract, excluding amounts collected on behalf of third parties (for example taxes

and duties collected on behalf of the government). Consideration is generally due upon satisfaction of performance obligations and

receivable is recognized when it becomes unconditional.

The Company does not have any contracts where the period between the transfer of the promised goods or services to the customer

and payment by the customer exceeds one year. As a consequence, it does not adjust any of the transaction prices for the time value of

money.

Revenue is measured based on the transaction price, which is the consideration, adjusted for discounts and claims, if any, as specified

in the contract with the customer. Revenue also excludes taxes collected from customers.

Contract balances

Trade receivables

A receivable represents the Company’s right to an amount of consideration that is unconditional.

Contract liabilities

A contract liability is the obligation to transfer goods or services to a customer for which the Company has received consideration (or an

amount of consideration is due) from the customer. If a customer pays consideration before the Company transfers goods or services to

the customer, a contract liability is recognised when the payment is made. Contract liabilities are recognised as revenue when the

Company performs under the contract.

(ii) Other Operating Revenue

Income from sale of wind power is recognised on the basis of units wheeled during the period. Incomes from carbon credits are

recognised on credit of Carbon Emission Reduction (CER) by the approving authority in the manner in which it is unconditionally

available to the generating Company.

(iii) Other Income

Other income is comprised primarily of interest income, dividend income, gain/loss on investments and gain/loss on foreign exchange

and on translation of other assets and liabilities. Interest income is recognized using the effective interest method. Claims for export

incentives/ duty drawbacks, duty refunds and insurance are accounted when the right to receive payment is established. Incentives on

exports and other Government incentives related to operations are recognised in the statement of profit or loss after due consideration

of certainty of utilization/receipt of such incentives.

l GOVERNMENT GRANTS

(i) Grants from the Government are recognised at their fair value where there is a reasonable assurance that the grant will be received and

the Company will comply with all the attached conditions.

(ii) Government grant relating to purchase of Property, Plant and Equipment are included in ''Other current/ non-current liabilities'' as

Government Grant - Deferred Income and are credited to Profit or loss on a straight line basis over the expected life of the related asset

and presented within ''Other operating Income''.

m EMPLOYEE BENEFITS(i) During Employment benefits

(a) Short term employee benefits

Short-term employee benefits are expensed as the related service is provided. A liability is recognised for the amount expected to be

paid if the Company has a present legal or constructive obligation to pay this amount as a result of past service provided by the

employee and the obligation can be estimated reliably.

(ii) Post Employment benefits

(a) Defined contribution plans

A defined contribution plan is a post employment benefit plan under which a Company pays fixed contribution into a separate entity and

will have no legal or constructive obligation to pay further amounts. The Company makes specified monthly contributions towards

government administered Provident Fund scheme.

Obligations for contributions to defined contribution plans are expensed as the related service is provided. Prepaid contributions are

recognised as an asset to the extent that a cash refund or a reduction in future payments is available.

(b) Defined benefit plans

The Company pays gratuity to the employees who have has completed five years of service with the company at the time when

employee leaves the Company.

The gratuity liability amount is contributed to the approved gratuity fund formed exclusively for gratuity payment to the employees.

The liability in respect of gratuity and other post-employment benefits is calculated using the Projected Unit Credit Method and spread

over the periods during which the benefit is expected to be derived from employees' services.

Re-measurement of defined benefit plans in respect of post employment are charged to Other Comprehensive Income.


Annexure - V


(c) Termination benefits

Termination benefits are payable when employment is terminated by the Company before the normal retirement date or when an

employee accepts voluntary redundancy in exchange for these benefits. In case of an offer made to encourage voluntary redundancy,

the termination benefits are measured based on the number of employees expected to accept the offer. Benefits falling due more than

twelve months after the end of reporting year are discounted to the present value.

n INCOME TAXES

Income tax expense comprises current and deferred tax. Tax is recognised in statement of profit and loss, except to the extent that it

relates to items recognised in the other comprehensive income or in equity. In which case, the tax is also recognised in the other

comprehensive income or in equity.

(i) Current tax

Current tax assets and liabilities are measured at the amount expected to be recovered from or paid to the taxation authorities, based

on tax rates and laws that are enacted or subsequently enacted at the Balance sheet date.

Current tax assets and liabilities are offset only if, the Company:

a) has a legally enforceable right to set off the recognised amounts; andb) intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Current tax provision is computed for income calculated after considering allowances and exemptions under the provisions of the

applicable Income Tax Laws. Current tax assets and current tax liabilities are off set, and presented as net.

(ii) Deferred tax

Deferred tax is recognised on temporary differences between the carrying amounts of assets and liabilities in the financial statements

and the corresponding tax bases used in the computation of taxable profit.

Deferred tax liabilities and assets are measured at the tax rates that are expected to apply in the year in which the liability is settled or

the asset realised, based on tax rates (and tax laws) that have enacted or substantively enacted by the end of the reporting year. The

carrying amount of Deferred tax liabilities and assets are reviewed at the end of each reporting year. Deferred tax is recognised to the

extent that it is probable that future taxable profit will be available against which they can be used.

The measurement of deferred tax reflects the tax consequences that would follow from the manner in which the Company expects, at

the reporting date, to recover or settle the carrying amount of its assets and liabilities.

Deferred tax assets and liabilities are offset only if:

a) the Company has a legally enforceable right to set off current tax assets against current tax liabilities; andb) the deferred tax assets and the deferred tax liabilities relate to income taxes levied by the same taxation authority on the same

taxable Company.

o BORROWING COSTS

General and specific Borrowing costs that are directly attributable to the acquisition, construction or production of a qualifying asset that

necessarily takes a substantial period of time to get ready for its intended use are capitalised as part of the cost of that asset till the date

it is ready for its intended use or sale. Other borrowing costs are recognised as an expense in the year in which they are incurred.

Investment income earned on the temporary investment of specific borrowings pending their expenditure on qualifying assets is

deducted from the borrowing cost eligible for capitalisation. All other borrowing costs are charged to the statement of profit and loss for

the year for which they are incurred.

p LEASES

The Company, as a lessee, recognises a right-of-use asset and a lease liability for its leasing arrangements, if the contract conveys the

right to control the use of an identified asset.

The contract conveys the right to control the use of an identified asset, if it involves the use of an identified asset and the Company has

substantially all of the economic benefits from use of the asset and has right to direct the use of the identified asset. The cost of the

right-of-use asset shall comprise of the amount of the initial measurement of the lease liability adjusted for any lease payments made at

or before the commencement date plus any initial direct costs incurred. The right-of-use assets is subsequently measured at cost less

any accumulated depreciation, accumulated impairment losses, if any and adjusted for any remeasurement of the lease liability. The

right-of-use assets is depreciated using the straight-line method from the commencement date over the shorter of lease term or useful

life of right-of-use asset. The Company measures the lease liability at the present value of the lease payments that are not paid at the

commencement date of the lease. The lease payments are discounted using the interest rate implicit in the lease, if that rate can be

readily determined. If that rate cannot be readily determined, the Company uses incremental borrowing rate. For short-term and low

value leases, the Company recognises the lease payments as an operating expense on a straight-line basis over the lease term.

q Non- Current assets held for sale:

Non-current assets are classified as held for sale if their carrying amount will be recovered principally through a sale transaction rather

than through continuing use. This condition is regarded as met only when a sale is highly probable from the date of classification,

management are committed to the sale and the asset is available for immediate sale in its present condition. Non-current assets are

classified as held for sale from the date these conditions are met and are measured at the lower of carrying amount and fair value less

cost to sell. Any resulting impairment loss is recognised in the Statements of Profit and Loss as a separate line item. On classification as

held for sale, the assets are no longer depreciated. Assets and liabilities classified as held for sale are presented separately as current

items in the Balance Sheet.


Annexure - V


r Provisions and contingent liabilities

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event. It is probable

that an outflow of resources embodying economic benefits will be required to settle the obligation and a reliable estimate can be made

of the amount of the obligation. If the effect of the time value of money is material, provisions are discounted using equivalent period

government securities interest rate. Unwinding of the discount is recognised in the statement of profit and loss as a finance cost.

Provisions are reviewed at each balance sheet date and are adjusted to reflect the current best estimate.

Contingent liabilities are disclosed when there is a possible obligation arising from past events, the existence of which will be confirmed

only by the occurrence or non-occurrence of one or more uncertain future events not wholly within the control of the Company or a

present obligation that arises from past events where it is either not probable that an outflow of resources will be required to settle or a

reliable estimate of the amount cannot be made. Information on contingent liability is disclosed in the Notes to the Financial Statements.

Contingent assets are not recognised. However, when the realisation of income is virtually certain, then the related asset is no longer a

contingent asset, but it is recognised as an asset.

s Segment reporting

An operating segment is a component of the Company that engages in business activities from which it may earn revenues and incur

expenses, whose operating results are regularly reviewed by the company’s chief operating decision maker to make decisions for which

discrete financial information is available. Based on the management approach as defined in Ind AS 108, the chief operating decision

maker evaluates the Company’s performance and allocates resources based on an analysis of various performance indicators by business

segments and geographic segments.

t Biological Assets

Biological Assets are measured at fair value less costs to sell, with any changes therein recognised in the Statement of Profit & Loss.

u Fair value measurement:

The Company measures financial instruments at fair value at each balance sheet date.

Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market

participants at the measurement date. The fair value measurement is based on the presumption that the transaction to sell the asset or

transfer the liability takes place either:

a) In the principal market for the asset or liability, or

b) In the absence of a principal market, in the most advantageous market for the asset or liability.

A fair value measurement of a non-financial asset takes into account a market participant’s ability to generate economic benefits by

using the asset in its highest and best use or by selling it to another market participant that would use the asset in its highest and best

use.

The Company uses valuation techniques that are appropriate in the circumstances and for which sufficient data are available to measure

fair value, maximising the use of relevant observable inputs and minimising the use of unobservable inputs.

All assets and liabilities for which fair value is measured or disclosed in the financial statements are categorised within the fair value

hierarchy.

v Business Combination and Goodwill/Capital Reserve:

The Company uses the pooling of interest method of accounting to account for common control business combination and acquisition

method of accounting to account for other business combinations.

The acquisition date is the date on which control is transferred to the acquirer. Judgement is applied in determining the acquisition date

and determining whether control is transferred from one party to another. Control exists when the Company is exposed to, or has rights

to variable returns from its involvement with the entity and has the ability to affect those returns through power over the entity. In

assessing control, potential voting rights are considered only if the rights are substantive.

Goodwill is initially measured at cost, being the excess of the aggregate of the consideration transferred and the amount recognised for

non-controlling interests, and any previous interest held, over the net identifiable assets acquired and liabilities assumed. If the fair value

of the net assets acquired is in excess of the aggregate consideration transferred, the Company re-assesses whether it has correctly

identified all of the assets acquired and all of the liabilities assumed and reviews the procedures used to measure the amounts to be

recognised at the acquisition date. If the re-assessment still results in an excess of the fair value of net assets acquired over the

aggregate consideration transferred, then the gain is recognised in Other Comprehensive Income (OCI) and accumulated in other equity

as capital reserve. However, if there is no clear evidence of bargain purchase, the entity recognises the gain directly in other equity as

capital reserve, without routing the same through OCI.

Consideration transferred includes the fair values of the assets transferred, liabilities incurred by the Company to the previous owners of

the acquiree, and equity interests issued by the Company. Consideration transferred also includes the fair value of any contingent

consideration. Consideration transferred does not include amounts related to the settlement of pre-existing relationships. Any goodwill

that arises on account of such business combination is tested annually for impairment.

In case of Pooling of interest method of accounting, the assets and liabilities of the combining entities recognises at their carrying

amounts. No adjustment is made to reflect the fair value or recognise any new assets and liabilities. The financial information in the

financial statements in respect of prior periods restates as if the business combination had occurred from the beginning of the preceding

period. The difference, if any, between the amount recorded as share capital issued plus any additional consideration in the form of cash

or other assets and the amount of share capital of the transferor is transferred to capital reserve and presented separately from other

capital reserves.


Annexure - VI

Notes to the Restated Standalone Financial Information

Note - 3Property, plant and equipment � in Lakh

Free Hold Land Buildings Plant & Equipment Windmills Furniture & Fixtures Vehicles Office

Equipment's

Leasehold Land * Land

A. Year ended March 31, 2021

Gross carrying amount

Opening gross carrying amount as at 1 April, 2020 160,661.55 60,225.45 163,818.86 55,067.75 939.29 1,703.71 2,878.02 1,430.81 85.14 446,810.58

Add : Additions - 119.94 1,510.78 178.10 2.63 45.31 49.15 - - 1,905.91

Less : Disposals - - 223.65 - 17.89 111.79 68.68 - - 422.01

Closing gross carrying amount 160,661.55 60,345.39 165,105.99 55,245.85 924.03 1,637.23 2,858.49 1,430.81 85.14 448,294.48

Accumulated depreciation and impairment

Opening accumulated depreciation and impairment

as at 1 April, 2020

- 12,258.70 50,861.44 22,790.13 772.11 1,589.35 2,635.30 438.93 49.67 91,395.63

Add : Depreciation charge during the year - 2,097.87 9,132.47 1,852.08 53.75 31.34 78.77 28.73 33.68 13,308.69

Less : Disposals/ Adjustments - - 92.16 - 13.76 99.06 63.78 - - 268.76

Closing accumulated depreciation and impairment - 14,356.57 59,901.75 24,642.21 812.10 1,521.63 2,650.29 467.66 83.35 104,435.56

Net carrying amount 160,661.55 45,988.82 105,204.24 30,603.64 111.93 115.60 208.20 963.15 1.79 343,858.92

B. Year ended March 31, 2020


Opening gross carrying amount as at 1 April, 2019 160,661.55 60,065.86 163,610.04 55,067.75 1,643.08 1,711.33 3,606.36 1,430.81 - 447,796.78

Add : Additions - 162.09 698.11 - 3.07 7.90 125.48 - 85.14 1,081.79

Less : Disposals - 2.50 489.30 - 706.85 15.52 853.82 - - 2,067.99

Closing gross carrying amount 160,661.55 60,225.45 163,818.85 55,067.75 939.30 1,703.71 2,878.02 1,430.81 85.14 446,810.58



as at 1 April, 2019

- 9,452.50 39,909.11 20,939.59 1,371.78 1,548.47 3,357.02 410.20 - 76,988.67

Add : Depreciation charge during the year - 2,145.12 9,260.84 1,850.54 72.20 55.76 93.10 28.73 49.67 13,555.96

Add : Impairment - 661.49 1,807.19 - - - - - - 2,468.68

Less : Disposals/ Adjustments - 0.41 115.70 - 671.87 14.88 814.82 - - 1,617.68

Closing accumulated depreciation and impairment - 12,258.70 50,861.44 22,790.13 772.11 1,589.35 2,635.30 438.93 49.67 91,395.63

Net carrying amount 160,661.55 47,966.75 112,957.41 32,277.62 167.19 114.36 242.72 991.88 35.47 355,414.95

C. Year ended March 31, 2019


Opening gross carrying amount as at 1 April, 2018 160,661.55 60,061.85 163,371.86 55,067.75 1,646.22 1,946.09 3,615.01 1,430.81 - 447,801.14

Add : Additions - 4.02 897.50 - 2.68 7.81 51.86 - - 963.87

Less : Disposals - 0.01 659.32 - 5.82 242.57 60.51 - - 968.23

Closing gross carrying amount 160,661.55 60,065.86 163,610.04 55,067.75 1,643.08 1,711.33 3,606.36 1,430.81 - 447,796.78



as at 1 April, 2018

- 7,268.36 30,638.75 19,089.05 1,298.33 1,673.27 3,284.42 381.26 - 63,633.44

Add : Depreciation charge during the year - 2,184.15 9,432.27 1,850.54 77.79 77.00 121.59 28.94 - 13,772.28

Add : Impairment - - - - - - - - - -

Less : Disposals/ Adjustments - 0.01 161.91 - 4.34 201.80 48.99 - - 417.05

Closing accumulated depreciation and impairment - 9,452.50 39,909.11 20,939.59 1,371.78 1,548.47 3,357.02 410.20 - 76,988.67

Net carrying amount 160,661.55 50,613.36 123,700.93 34,128.16 271.30 162.86 249.34 1,020.61 - 370,808.11

Particulars Total

Own assets

Right of use of assets


Annexure - VI


� in Lakh

2,683.08

2,520.39

2,691.30

Movement of Capital work in progress are as below :-

� in Lakh

Particulars As at March 31, 2021 As at March 31,

2020

As at March 31, 2019

Opening Balance 2,520.39 2,691.30 2,812.25

Add : Addition during the year 2,580.03 1,751.82 977.47

Less : Capitalised during the year 2,417.34 853.94 1,098.42

Less : Impairment during the year - 1,068.79 -

Closing balance at the end of year 2,683.08 2,520.39 2,691.30

Notes :-

(ii) Property, plant and equipment are pleged/hypothecated as security [Refer note 13(a) and 16(a)]

(iii) Buildings include = 0.02/- Lakh [ Previous Year March 2020, = 0.02/- Lakh and March 2019, = 0.02/- Lakh] being cost of Shares in Co-operative Societies. Title deeds in respect of shares amounting to = 0.01/- Lakh are in the process of transfer.

(iv) * In one case of leasehold land having gross carrying amount of = 71.55 Lakh the original lease period is expired. The Company approached the government authority to extend leasehold term for further period. The matter is sub judicial stage.

(i) The Company in accordance with the Indian Accounting Standard (Ind AS -36) on “Impairment of Assets” carried out an exercise of identifying the assets that may have been impaired in accordance with the said Ind AS. On the basis of review carried out by the management, the

management has provided for impairment amounting to = NIL (Previous year March 2020 = 3,537.47 Lakh) on property, plant and equipment and capital work in progress during the year ended March 31, 2021.

Capital work in progress as on March 31, 2021 (Net of impairment of � 1,068.79 Lakh)

Capital work in progress as on March 31, 2020 (Net of impairment of � 1,068.79 Lakh)

Capital work in progress as on March 31, 2019


Annexure - VI


Note - 4

Intangible assets � in Lakh

Particulars Trade Marks /

Brands (Refer notes

below)

Computer

Software

Total

A. Year ended March 31, 2021


Opening gross carrying amount as at 1 April, 2020 151,584.00 1,420.79 153,004.79

Additions - 16.66 16.66

Closing gross carrying amount 151,584.00 1,437.45 153,021.45

Accumulated amortisation

Opening accumulated amortisation 36.00 1,383.39 1,419.39

Amortisation charge during the year - 16.40 16.40

36.00 1,399.79 1,435.79

Closing net carrying amount 151,548.00 37.66 151,585.66

B. Year ended March 31, 2020



Additions - 17.41 17.41





Less : Disposals/ Adjustments - 0.09 0.09

Closing accumulated amortisation 36.00 1,383.39 1,419.39


C. Year ended March 31, 2019



Additions - 7.11 7.11





Closing accumulated amortisation 36.00 1,362.08 1,398.08


Notes :

(ii) Intangible assets are pleged/hypothecated as security [Refer note 13(a) and 16(a)].

Closing accumulated amortisation

(i) All the intellectual property rights, including brands, trademarks, copyrights, registered in the name of Company and/or used by

the Company. After the corporate insolvency resolution process all such intellectual property rights continue to be solely and

exclusively owned and used by the Company. The Company does not expects any impacts of application/petition filed in relation to

ownership and/or usage by the Company of the intellectual property rights, including arbitration petition filed.


Annexure - VI


� in Lakh

Note - 5a As at

March 31, 2021

As at

March 31, 2020

As at

March 31, 2019

FINANCIAL ASSETS Non-Current Financial Investments

A Investment in Equity Instruments: (fully paid up)

a) In Subsidiary companies

- Unquoted

i) Nil [ Previous Year March 2020, NIL and March 2019, 99,40,700] Equity Shares of = 10/- each fully paid in

Ruchi Worldwide Limited

- - -

ii) Nil [ Previous Year March 2020, NIL and March 2019, 60,00,000] Equity Shares of USD 1 each fully paid up in

Ruchi Industries Pte Limited

- - -

iii) Nil [ Previous Year March 2020, NIL and March 2019, 28,543] Equity Shares of 1,000 United Arab Emirates

Dirhams (AED) each fully paid up in Ruchi Ethiopia Holdings Limited

- - -

iv) Nil [ Previous Year March 2020, NIL and March 2019, 10,000] Equity Shares of = 10/- each fully paid up in

Mrig Trading Private Limited

- - 1.00

v) Nil [Previous Year March 2020, NIL and March 2019, 60,60,000] Equity Shares of = 10/- each fully paid in

RSIL Holdings Private Limited

- - 348.10

b) In Joint Venture

22,060 [ Previous Year March 2020, 22,060 and March 2019, 22,060] Equity Shares of = 10/- each fully paid

in Ruchi J-Oil Private Limited (Refer Note 35)

154.26 154.26 154.26

c) Investment in Other Entities

Investment in Limited Liability Partnership (LLP) [refer Note E below] [Impairment = NIL (Previous Year March

2020 = NIL and March 2019, = 1.53 Lakh)

- - -

Total 154.26 154.26 503.36

B Investment in Equity Instruments - Other than in Subsidiary, Associate and Joint Venture companies

( Designated at Fair value through Other Comprehensive Income (FVTOCI) [Refer Note 31 (A) 1 (ii)]

a) Quoted

i) 8,83,500 [ Previous Year March 2020, 8,83,500 and March 2019, 8,83,500] Equity Shares of = 10/- each fully

paid up in National Steel & Agro Industries Limited

37.84 12.38 49.39

ii) 4,00,000 [ Previous Year March 2020, 4,00,000 and March 2019, 4,00,000 ] Equity Shares of = 10/- each fully

paid up in Anik Industries Limited

57.60 25.40 63.20

iii) 2,73,24,239 [ Previous Year March 2020, 2,73,24,239 and March 2019, 2,73,24,239] Equity Shares of = 1/-

each fully paid up in Ruchi Infrastructure Limited

1,584.81 508.24 792.40

iv) 17,71,700 [ Previous Year March 2020, 17,71,700 and March 2019 17,71,700] Equity Shares of = 10/- each

fully paid up in IMEC Services Limited

21.79 30.12 33.67

v) 1,19,300 [ Previous Year March 2020, 1,19,300 and March 2019, 1,19,300] Equity Shares of = 10/- each fully

paid up in Sarthak Global Limited

5.65 6.19 6.44

vi) 1,80,000 [ Previous Year March 2020, 1,80,000 and March 2019, 1,80,000] Equity Shares of = 2/- each fully

paid up in Blue Chip India Limited

0.68 0.59 0.59

vii) 35,000 [ Previous Year March 2020, 35,000 and March 2019, 35,000] Equity Shares of = 10/- each fully paid

up in Sharadraj Tradelink Limited

- - -

viii) 21,500 [ Previous Year March 2020, 21,500 and March 2019, 21,500] Equity Shares of = 10/- each fully paid

up in Hereld Commerce Limited

0.41 0.41 0.41

b) Unquoted

i) 25,000 [ Previous Year March 2020, 25,000 and March 2019, 25,000] Equity shares of = 10/- each fully paid-

up in Ruchi Infotech Limited

- - -

ii) 6,00,000 [ Previous Year March 2020, 6,00,000 and March 2019, 6,00,000] Equity shares of = 10/- each fully

paid-up in Ruchi Acroni Industries Limited

- - -

iii) 35,000 [ Previous Year March 2020, 35,000 and March 2019, 35,000] Equity shares of = 10/- each fully paid-

up in E-DP Marketing (P) Limited

- - -

iv) 16,100 [Previous Year March 2020, 16,100 and March 2019, 16,100] Equity Shares of = 10/- each fully paid

up in National Board of Trade Private Limited

- - -

Total 1,708.77 583.33 946.10

C Investment in Government Securities measured at Amortised costNational Saving Certificates/Kisan Vikas Patra (deposited with Government authorities) 0.03 0.04 1.09

Total 0.03 0.04 1.09

GRAND TOTAL 1,863.06 737.63 1,450.55

Investments In Subsidiaries and Joint Ventures ( Measured at cost ) [ Refer Note 5a - D(a) below]


Annexure - VI


As at

March 31, 2021

As at

March 31, 2020

As at

March 31, 2019

Aggregate amount of quoted investments - Cost 10,774.61 10,774.61 10,774.61 Fair Market Value of quoted investments 1,708.77 583.33 946.10 Aggregate amount of unquoted investments 154.29 154.30 512.06 Aggregate amount of Impairment of unquoted investments (68.67) (68.66) (12,449.30)

Category-wise Non-current InvestmentFinancial assets carried at AC 0.03 0.04 1.09 Financial assets measured at cost 154.26 154.26 503.36 Financial assets measured at FVTOCI 1,708.77 583.33 946.10

D

E

� in Lakh

Note - 5b As at

March 31, 2021

As at

March 31, 2020

As at

March 31, 2019

LoansSecurity & Other Deposits-Unsecured Considered good * 3,447.06 3,554.68 3,529.61

Considered having significant increase in Credit Risk - - 750.00

Credit impaired - - (750.00)

3,447.06 3,554.68 3,529.61

� in Lakh

Note - 5c As at

March 31, 2021

As at

March 31, 2020

As at

March 31, 2019

Other Financial assetsInterest Accrued but not due On Investments 0.03 0.03 6.67 On Fixed Deposits With Bank 72.30 110.60 -

Other Receivables [Refer Note 34] 515.71 515.71 528.20 Fixed Deposit with banks more than 12 months maturity - Against Margin Money [ Under lien ] 500.63 733.75 817.72

- Others 0.01 205.78 61.34

1,088.68 1,565.87 1,413.93

(a) For transfer of subsidiaries [Refer Note 32(h)]

(c) Investment in Other than Subsidiaries, Associates and Joint ventures are measured at FVTOCI and is charged/added to "Other Comprehensive Income". Fair Valuation of unlisted

securities is determined based on the valuation reports and in case of listed securities the same is determined based on the prevailing market prices.

*Includes Security and Other Deposits from related parties = NIL (Previous Year March 2020, = NIL and March 2019, = 1,365 Lakh) [Refer Note 39 ]

During the year 2018-19 with effect from January 25, 2019, Indian Oil Corporation Limited exited as a partner from Indian Oil Ruchi Biofuels, LLP [ LLP No AAA-1445].

(b) Investment in Subsidiaries, Associates and Joint ventures are measured at cost and tested for impairment. Impairment (if any) denotes permanent diminution and charged to

Statement of Profit and loss.


Annexure - VI


� in Lakh

Note - 6 As at

March 31, 2021

As at

March 31, 2020

As at

March 31, 2019

Other non-current assets

Capital advances 380.38 340.85 282.46

Other loans and advances

-Advance income tax including tax deducted at source (Net of provisions) 6,194.62 5,683.98 3,939.16

-Deposits paid under protest (Refer Note 33 #) 4,307.72 4,291.83 4,183.75

-Prepaid expenses 25.10 194.90 233.45

10,907.82 10,511.56 8,638.82

� in Lakh

Note - 7 As at

March 31, 2021

As at

March 31, 2020

As at

March 31, 2019

Inventories

a) Raw Materials (including packing material)

Goods in transit 53,379.04 8,277.62 8,598.94

others 77,843.15 57,726.27 55,915.98

b) Work-in-progress 726.98 550.46 487.15

c) Finished goods

Goods in transit 812.04 683.79 541.98

others 91,071.52 57,499.28 50,799.13

d) Stock- in- Trade [ Refer Note (i) below] 239.28 53.20 57.43

e) Realisable by-products 3,857.50 3,157.76 2,457.62

f) Stores and Spares 5,405.75 4,975.19 4,844.84

g) Consumables 3,001.23 2,537.92 2,382.06

236,336.49 135,461.49 126,085.13

Notes:

(i) The following inventories are measured at Fair Value � in Lakh

March, 2021 March, 2020 March, 2019

Particulars Fair Value Fair Value Fair Value

Stock-in-trade 239.28 53.20 57.43

(ii) Inventories are pleged/hypothecated as security [Refer note 13(a) and 16(a)]

� in Lakh

Note - 8a As at

March 31, 2021

As at

March 31, 2020

As at

March 31, 2019

Current investments

A Investments in Mutual Funds measured at fair value through Profit and Loss [ FVTPL]

Quoted

i) NIL Units [Previous Year March 2020, 1,00,000 Units and March 2019, 1,00,000 Units] of SBI Magnum

Multicap fund- Growth of = 10.00/- each.

- 37.04 48.67

ii) NIL Units [Previous Year March 2020, 60,681.871 Units and March 2019, 60,681.871 Units] of SBI Magnum

Equity Fund -Regular plan- Growth of = 41.20/- each.

- 49.34 63.49

iii) NIL Units [Previous Year March 2020, 50,000 Units and March 2019, 50,000 Units] of SBI Infrastructure

Fund-Regular plan Growth of = 10/- each.

- 5.55 7.53

iv) NIL Units [Previous Year March 2020, 774.446 Units and March 2019, 774.446 Units] of PNB Principal

Emerging Blue Chip Fund - Regular plan Growth of = 10/- each.

- 0.63 0.81

B Investment in Preference Shares measured at Amortised cost

Unquoted

10,46,435 [Previous Year March 2020, 10,46,435 and March 2019, 10,46,435] 6% Non Cumulative, Non

Convertible Redeemable Preference Shares of = 100/- each fully paid up in GHI Energy Private Limited

950.32 833.92 731.24

C In Associate company

NIL ( Previous Year March 2020 NIL and March 2019, 4,40,050) Equity Shares of = 10/- each fully paid up

in GHI Energy Private Limited

- - 819.24

D Investment in Government securities measured at Amortised Cost [AC]

Unquoted

National Saving Certificates/Kisan Vikas Patra (deposited with Government authorities) - - 8.37

E Investments in Unquoted share measured at fair value through Profit and Loss [ FVTPL]

4,40,050 [ Previous Year March 2020, 4,40,050 and March 2019, NIL] Equity Shares of = 10/- each fully paid

up in GHI Energy Private Limited

225.79 354.55 -

T O T A L 1,176.11 1,281.03 1,679.35

Unsecured, considered good (unless otherwise stated)

Valuation Techniques : Stock-in-Trade are measured at fair value are based on quotations from Solvent Extractor's Association of India ( Non Government Organisation) recognised by

Ministry of Agriculture, Government of India.

(At lower of cost and net realisable value except for stock-in-trade measured at fair value and realisable by-products at net realisable value)


Annexure - VI


Aggregate amount of quoted investments -Cost - 41.25 41.25

Market Value of quoted investment - 92.56 120.50

Aggregate amount of unquoted investments 2,352.38 2,352.38 2,360.75

Fair value adjustments for Investments (1,099.11) (1,112.59) (722.65)


Annexure - VI


� in Lakh

Note - 8b As at

March 31, 2021

As at

March 31, 2020

As at

March 31, 2019

Trade Receivables

Considered good- Unsecured* 46,899.65 30,289.79 27,516.05

Credit impaired 130,111.70 130,111.70 650,335.12

177,011.35 160,401.49 677,851.17

Less: Allowance for credit impaired/Expected credit loss 133,169.12 133,002.21 651,627.56

43,842.23 27,399.28 26,223.61

� in Lakh

Note - 8c As at

March 31, 2021

As at

March 31, 2020

As at

March 31, 2019

Cash and cash equivalentsBalances with Banks

i) In Current Accounts 4,415.81 6,008.78 6,678.86 ii) In Deposit Accounts with less than or equal to 3 months maturity 172.39 9,331.57 9,078.16

Cash in hand 38.85 39.64 45.30 4,627.05 15,379.99 15,802.32

� in Lakh

Note - 8d As at

March 31, 2021

As at

March 31, 2020

As at

March 31, 2019

Bank balances Other than cash and cash equivalents aboveEarmarked Unclaimed Dividend Accounts 6.63 12.40 17.31

In Current Accounts [Refer Note (i) Below] 16,307.54 21,729.62 -

In Deposit Accounts Original Maturity less than or equal to 3 months - Against Margin Money [Under lien] 7,594.97 2,509.17 718.00

- Earnest Money Deposit [Refer Note (ii) Below] - - 25,050.18

More than 3 months but less than or equal to 12 months maturity

- Against Margin Money [ Under lien ] 10,132.99 5,873.15 1,391.43

- Others 0.02 21.87 24.33

34,042.15 30,146.21 27,201.25

Notes :

(i)

(ii) Earnest money deposited in designated bank account from applicants during CIRP process received from potential resolution applicants.

� in Lakh

Note - 8e As at

March 31, 2021

As at

March 31, 2020

As at

March 31, 2019

LoansUnsecured, considered good

Security and Other Deposits 85.97 27.77 6.38 Loans to Related parties [Refer Note (i) below and 39] 0.18 5.00 3.32

Loan to employees 26.19 87.38 103.43

Note : 112.34 120.15 113.13

(i) Loan to related party includes = 0.18 Lakh (Previous year March 2020, = 5.00 Lakh and March 2019, = 2.47 Lakh) due by officer of the Company.

� in Lakh

Note - 8f As at

March 31, 2021

As at

March 31, 2020

As at

March 31, 2019

Other Financial assets Unsecured considered good

Interest Accrued but not due On Fixed Deposits with Banks 506.55 275.43 180.29 On Other deposits 33.40 54.59 35.12 Derivative Assets - Commodity Contracts 19.67 - 124.03 Unbilled Revenue 365.30 15.81 24.13

924.92 345.83 363.57

Bank balances in current accounts includes amount payable to financial and operational creditors aggregating to = 16,307.54 Lakh (Previous year March, 2020 = 21,729.62

Lakh) is kept in separate escrow accounts. As per escrow agreement any amount unpaid in this Account is deemed to be utilised and the Company has no right, title and

claim on the same.

*Trade Receivables Considered good include = 19,533.71 Lakh [Previous Year March 2020, = 13,369.12 Lakh and March 2019, = 38.60 Lakh] due to related parties.[ Refer

Note 39]


Annexure - VI


� in Lakh

Note - 9 As at

March 31, 2021

As at

March 31, 2020

As at

March 31, 2019

Other Current Assetsa) Advances recoverable in cash or in kind or for value to be received Unsecured- Considered good [ Refer Note (i) below ] 24,374.81 23,444.74 23,906.06 Unsecured- Credit impaired 203.57 203.57 48,970.29

24,578.38 23,648.31 72,876.35 Less: Allowance for credit impaired 203.57 203.57 48,970.29

24,374.81 23,444.74 23,906.06

b) Gratuity excess of Planned assets over obligations [ Refer Note 18] 283.98 304.63 695.27

c) Balances with government authorities 10,897.53 12,563.94 12,066.91

d) Indirect Tax Refund Receivable (Refer Note 33 #) Considered Good 6,720.58 5,217.92 7,034.70 Considered Doubtful 4,259.12 4,259.12 4,259.12

10,979.70 9,477.04 11,293.82 Less: Allowance for credit impaired (Refer Note 30) 4,259.12 4,259.12 4,259.12

6,720.58 5,217.92 7,034.70

e) Other Receivables (includes licence in hand, export incentive receivable and subsidy receivable) 4,036.57 8,154.14 7,209.50

f) Prepaid expenses 1,068.22 683.74 557.22

47,381.69 50,369.11 51,469.66

Note :

(i)

� in Lakh

Note - 10 As at

March 31, 2021

As at

March 31, 2020

As at

March 31, 2019

Assets Classified as held for SaleProperty, Plant & Equipment 357.56 357.56 357.56 Other Advances 10.00 10.00 10.00

367.56 367.56 367.56

Note:

The Company has entered into an agreement on December 5, 2016 to sale 18.1890 acres land situated at Taluka Alibag, District Raigad for consideration of = 345.77 Lakh. As per

the terms of the agreement, the Company is required to bear the conversion expenses upto = 3.75 Lakh per acre and also carry out certain improvements over the said land which

shall be reimbursed by the purchaser. The Company has received part of the consideration by way of advance payment. The Company has also entered into contract for the

purpose of undertaking the improvements agreed upon and paid an advance to the contractor. The Collector of Alibagh has sent notices to the Company regarding the condition of

not putting the land for industrial use in 15 years period. The company has filed a case with the Mumbai bench of Hon’ble National Company Law Board Tribunal to quash the

notices. The Corporate Insolvency Resolution Process [‘CIRP’] was initiated in respect of Company under the provisions of the IBC by an order of the Hon’ble National Company Law

Tribunal, Mumbai dated December 8, 2017 delivered on December 15, 2017 and a moratorium as per Section 14 of the Code was declared. The Resolution Plan was approved by

the Hon’ble National Company Law Tribunal , Mumbai and a moratorium was in effect till September 6, 2019. The matter is pending at Hon’ble National Company Law Tribunal,

Mumbai. Therefore, the Company continues to disclose the land and the advances paid for improvement of land and classify it as assets held for sale [Refer Note 10] and the

amount of advance received form the buyer has been classified as Liabilities directly associated with assets classified as held for sale [Refer Note 19], till the final outcome of the

said matter.

The above advances includes advance of = 2,054.96 Lakh (Previous year March 2020, = 2,872.09 Lakh and March 2019, = 8.59 Lakh) made to Related Party and this also

represents due by private companies in which director of the Company are director. [ Refer Note 39]


Annexure - VI


� in Lakh

Note - 11 As at

March 31, 2021

As at

March 31, 2020

As at

March 31, 2019

Equity share capital (a) Authorised

i) Equity Shares

2,11,20,50,000 (Previous Year March 2020, 2,11,20,50,000 and March 2019,

1,01,02,50,000) of face value of = 2/- each

42,241.00 42,241.00 20,205.00

ii) Cumulative Redeemable Preference Share

5,30,64,000 (Previous Year March 2020, 5,30,64,000 and March 2019,

51,00,000) of face value = 100/- each

53,064.00 53,064.00 5,100.00

95,305.00 95,305.00 25,305.00

(b) Issued, Subscribed and paid-up [ Refer Note 32 (d)]

Equity Shares

29,58,41,007 ( Previous Year March 2020, 29,58,41,007 and March 2019,

33,41,00,722) of face value of = 2/- each fully paid-up [ Refer Note (a) of

SOCIE ]

5,916.82 5,916.82 6,682.01

Less: 76,301 Treasury Equity Shares [Previous year March 2020, 76,301 and

March 2019, 76,30,115]

1.53 1.53 152.60

5,915.29 5,915.29 6,529.41

(c) Details of shares held by shareholders holding more than 5% shares in the Company.

No. of Shares % No. of Shares %

EQUITY SHARESPatanjali Ayurved Limited 142,500,000 48.17% 142,500,000 48.17%

Yogakshem Sansthan 60,000,000 20.28% - -

Divya Yog Mandir Trust - - 60,000,000 20.28%

Patanjali Parivahan Private Limited 50,000,000 16.90% 50,000,000 16.90%

Patanjali Gramudyog Nayas 40,000,000 13.52% 40,000,000 13.52%

Particulars March 31, 2021 March 31, 2020


Annexure - VI


No. of Shares %

Soyumm Marketing Private Limited 42,535,159 12.73%Spectra Realties Private Limited 18,400,000 5.51%

(d) Rights, Preferences and Restrictions attached to shares

(e) For reconciliation of number of shares outstanding at the beginning and at the end of the period - [Refer Note (a) of SOCIE.]

(f)

(g)

(h)

In respect of authorised share capital Refer Note 32 (c)

Pursuant to amalgamation, the company has issued equity share capital. (Refer note no. 32 g)

Equity Shares: The Company has one class of equity shares having a par value of = 2 per share. Each shareholder is eligible for one vote per share held. In the event of

liquidation, the equity shareholders are eligible to receive the remaining assets of the Company after distribution of all preferential amounts, in proportion to their shareholding.

As per the resolution plan approved by Hon'ble National Company Law Tribunal, Mumbai Bench vide its orders dated July 24, 2019 and September 4, 2019 under section 31 of the

Insolvency and Bankruptcy Code, 2016, the paid up equity share capital of the company was reduced and consolidated. Every shareholder holding 100 equity shares of = 2/- each

got 1 equity share of = 2/-. The fractional shares were allotted in favour of SBICAP Trustee Company Limited, acting as Trustee for Ruchi Soya Fractional Shares Settlement Trust.

Ruchi Soya Industries Limited Beneficiary Trust (“the Trust”) was holding 76,30,115 Shares of = 2/- each (pre reduction and consolidation) and the same were held in the name of

Mr. Dinesh Shahra, Trustee of Trust at that time. Out of 76,30,115 shares, 199 Shares were freeze by NSE as per SEBI Circular No. SEBI/HO/CFD/CMD/CIR/P/2016/116 dated

October 26, 2016. Remaining 76,29,916 shares were shifted in the new demat account of the Trust opened with the PAN of Trust. As per the Scheme of reduction and

consolidation, 76,299 Shares (new) were allotted in favour of Mr. Dinesh Shahra (in the capacity of Trustee of the Trust) and 0.16 share being fraction was allotted to SBICAP

Trustee Company Limited. Against 199 Shares, 1 share was allotted to Mr. Dinesh Shahra (in the capacity of Trustee of Trust) and 0.99 share, being fraction was allotted to

SBICAP Trustee Company Limited. Mr. Kumar Rajesh has been appointed Trustee of the Trust in place of Mr. Dinesh Shahra. Pursuant to Schemes u/s. 391-394 of the Companies

Act, 1956 then applicable approved by the Hon’ble High Court of judicature at Mumbai and Delhi in an earlier year 76,301 Equity shares of the Company are held by a Trust for the

benefit of the Company and its successor. The investment cost of acquition of these treasury shares have been netted of from the Equity Share Capital and Securities premium

account as per the provisions of Ind AS. The dividend of earlier period received by the Trust in respect of these shares is included under the head ‘Dividend’ under ‘Other Income’.

Particulars March 31, 2019


Annexure - VI


� in Lakh

Note - 12 As at

March 31, 2021

As at

March 31, 2020

As at

March 31, 2019

Other Equity

A Capital Redemption Reserve 8,770.98 8,770.98 8,770.98

B Share Options Outstanding Account - - -

C Securities Premium Account 45,186.45 45,186.45 45,186.45 D General Reserve 41,815.51 41,815.51 41,815.51 E Business Development Reserve - - -

F Capital Reserve 15,662.53 15,662.53 3,328.75

H Equity Instruments through Other Comprehensive Income [ Refer

Note 31 (A) I (ii)]

(8,828.62) (9,954.07) (9,591.30)

H Retained Earnings 297,719.14 229,693.46 (548,118.95)

TOTAL 400,325.99 331,174.86 (458,608.56)

A Capital Redemption Reserve

Balance as at the beginning of the year 8,770.98 8,770.98 8,770.98

Add/Less: Movement during the year - - -

Balance as at the end of the year 8,770.98 8,770.98 8,770.98

B Share Options Outstanding Account

Employee stock Option Outstanding - - 39.53

Less: reversal on expiry of option - - 39.53

Options outstanding as at the end of the year - - -

C Securities Premium Account


Add/Less: Movement during the year - - -


D General Reserve


Add/Less: Movement during the year - - 39.53


E Business Development Reserve

Balance as at the beginning of the year - - -

Less:Advertisement & sales promotion expenses (net of current tax)

[Refer Note 30 (II)]

- - -

Balance as at the end of the year - - -

F Capital Reserve


Add: Arising pursuant to amalgamation of Patanjali Consortium

Adhigrahan Private Limited [Refer Note 32 (g)]

- 12,333.78 -


G Equity Instruments through Other Comprehensive Income [

Refer Note 31 (A) I (ii)]Balance as at the beginning of the year (9,954.07) (9,591.30) (9,119.42)

Add/Less: Movement during the year 1,125.45 (362.77) (471.88)

Balance as at the end of the year (8,828.62) (9,954.07) (9,591.30)

H Retained Earnings

Balance as at the beginning of the year 229,693.46 (548,118.95) (551,371.15)

Add: Net Profit for the year 68,077.18 771,461.39 3,412.89 Add: Reduction in value of Equity and Preference Shares [Refer

Note 32 (d)]

- 6,632.75 -

Less: Remeasurement of the defined benefit plans through other

comprenshive income [Refer Note 31 (A) I (i)]

51.50 281.73 160.69

Balance as at the end of the year 297,719.14 229,693.46 (548,118.95)

400,325.99 331,174.86 (458,608.56)


Annexure - VI


G NATURE AND PURPOSE OF RESERVES

(i)

(ii) Share Options Outstanding Account

20% 30% 50%

April 1, 2008 1,237,000 35/- April 1, 2009 April 1, 2010 April 1, 2011 October 1, 2009 1,495,000 35/- October 1, 2010 October 1, 2011 October 1, 2012April 1, 2010 253,500 35/- April 1, 2011 April 1, 2012 April 1, 2013 April 1, 2011 198,000 35/- April 1, 2012 April 1, 2013 April 1, 2014 April 1, 2012 15,000 35/- April 1, 2013 April 1, 2014 April 1, 2015 April 1, 2013 219,000 35/- April 1, 2014 April 1, 2015 April 1, 2016 April 1, 2014 275,000 35/- April 1, 2015 April 1, 2016 April 1, 2017 April 1, 2015 437,500 35/- April 1, 2016 April 1, 2017 April 1, 2018 Total 4,130,000

The movement in the Employee Stock Options during the year ended March 31, 2019 is as follows:

Date of Grant Opening Balance

as on April 1, 2018

Issued during the

year

Cancelled Exercised during

the year

Closing Balance

as on March 31,

2019April 1, 2014 171,000 - 171,000 - - April 1, 2015 351,500 - 351,500 - - Total 522,500 - 522,500 - -

Previous Year 734,500 - 212,000 - 522,500

Shares arising out

of options

Range of exercise

prices

Weighted

average exercise

price

Options outstanding at the beginning of the year 522,500 35 35

Add: Options granted during the year - 35 35

Less: Options lapsed during the year 522,500 35 35

Less: Options exercised during the year - 35 35

Options outstanding at the year end - - -

Valuation of stock options

These assumptions reflect management’s best estimates, but these assumptions involve inherent market uncertainties based on market conditions generally outside of the

Company’s control. As a result, if other assumptions had been used in the current period, stock-based compensation expense could have been materially impacted. Further, if

management uses different assumptions in future periods, stock based compensation expense could be materially impacted in future years The estimated fair value of stock

options is charged to income on a straight-line basis over the requisite service period for each separately vesting portion of the award as if the award was, in-substance, multiple

awards.The weighted average inputs used in computing the fair value of options granted were as follows:

Expected dividends: Expected dividend assumed to be 8 % paid each year

Number of Options

April 1, 2015

Exercise Price

INR

Particulars of vesting

For the year ended March 31, 2019

The fair value of stock options granted during the period has been measured using the Black–Scholes option pricing model at the date of the grant. The Black-Scholes option

pricing model includes assumptions regarding dividend yields, expected volatility, expected terms and risk free interest rates. The key inputs and assumptions used are as follows:

Particulars

Date of Grant

Capital Redemption Reserve

Description of share-based payment arrangements

Employee stock options - equity settled Share-based payment arrangements:

Risk free interest rate: The risk free interest rate on the date of grant considered for the calculation is the interest rate applicable for a maturity equal to the expected life of the

options based on the yield curve for Government bonds.

Share price: The closing price on NSE as on the date of grant has been considered for valuing the options granted.

Exercise Price: Exercise Price is the price as determined by the Remuneration and Compensation Committee.

Expected Volatility: The historical volatility of the stock till the date of grant has been considered to calculate the fair value of the options.

Expected Option Life: Expected Life of option is the period for which the Company expects the options to be live.

Capital Redemption Reserve was created out of profits of the Company for the purpose of redemption of shares.

The Company vide resolution passed at their Extra Ordinary General Meeting held on November 28, 2007 as modified by resolution passed at the Extra Ordinary Meeting held on

June 16, 2009 approved grant of up to 54,71,000 options to eligible directors and employees of the Company and its subsidiary Ruchi Worldwide Limited.

In terms of the said approval, the eligible employees / directors are entitled against each option to subscribe for one equity share of face value of INR 2/- each at a premium of

INR 33/- per share.

The holders of the Employee Stock Options are entitled to exercise the option within a period of three years from the date of first vesting, failing which they stand cancelled. In the

case of termination of employment by the Company, all options, vested or not, stand cancelled immediately. In case of voluntary resignation, all un-vested options stand cancelled.

Please refer below table for details on vesting period. There are no other vesting conditions, apart from service condition.

As per the terms of the plan, the Company has granted stock options in following tranches to its eligible employees:

The Share options Outstanding account is used to recognise Intrinsic Value/Fair value of the options issued to employees at the grant date under the Ruchi Soya Stock Option plan

2007. There are no share option outstanding subsequent to March 31, 2019.


Annexure - VI


Detail of Grants

Grant date April 1, 2015

Fair value = 21.79

Share price as on date = 45.85

Exercise price = 35

Expected volatility (weighted-average) 0.4215 Expected life (weighted-average) [3 years + 1 year Grace period] 4 years

Expected dividends 8.00%

Risk-free interest rate (based on government bonds) 8.00%

(iii) Securities Premium Account

(iv) General Reserve

(v)

(a)

(b)

(c)

(d)

i)

ii)

(vi) Capital Reserve

Capital Reserve amounting to = 15,662.53 Lakh was created on :

(vii) Equity Instruments through Other Comprehensive Income

(viii) Retained Earnings

Securities Premium account is created on recording of premium on issue of shares. The reserve is utilised in accordance with the provisions of the Companies Act, 2013.

The same is created out of surplus profits transferred as per the provisions of the Act, it is utilised as per provisions of the Act.

a) amalgamation with Palm tech India Ltd by = 1,087.07 Lakh, and

b) On 3,53,25,000 share warrants issued in an earlier year on preferential basis by = 2,241.69 Lakh. Holders of 64,00,000 warrants exercised the option and were allotted equity

shares. Holders of balance 2,89,25,000 warrants did not exercise their option which was lapsed, on expiry on 18 months from the date of issue of warrants. Consequently, the

amount of = 2,241.69 Lakh paid by these warrant holders were forfeited and transferred to capital reserve.

Business Development Reserve

The Hon’ble High Court of judicature of Mumbai, had approved u/s. 391-394 the Scheme of Amalgamation and Arrangement of ‘Mac Oil Palm Limited’ with Ruchi Soya Industries

Limited and its shareholders, which was effective from April 01, 2009.

Pursuant to the Scheme referred to in (a) above, the Company had, in an earlier year, created Business Development Reserve from the balance standing to the credit of General

Reserve & Securities Premium Account.

In terms of the Scheme, as and when deemed fit by the Board, the said Business Development Reserve is available for adjusting various expenses, including advertisement, sales

promotion, development of brands, research and development activities, provision / write off of doubtful debtors/current assets/loans and advances, additional depreciation

necessitated by revaluation of fixed assets and expenses of amalgamation including expenses of the Transferor Company i.e. Mac Oil Palm Limited, incurred on or after April 01,

2009, after adjusting for any tax effects, both current and deferred tax thereon.

For amounts debited during previous year to Business Development Reserve in accordance with the said Scheme. Refer Note 12(E).

Had the Scheme, approved by the Hon’ble High Court, not prescribed the accounting treatment as described in (b) above,

the Company would have been required to:Credit an amount of = 36,157.70/- Lakh to Revaluation Reserve instead of the Business Development Reserve and Debit the additional charges as mentioned above in Note 12 (E).

As a cumulative impact of the treatment described in para (i) above, the accumulated balance in the General Reserve and Securities Premium account as at March 31, 2019 would

have been higher by = 5,193.54/- Lakh and = 23,842.30/- Lakh respectively. The accumulated balance in the Statement of Profit and Loss as at March 31, 2019 would have been

lower by = 43,701.06/- Lakh, the balance in Revaluation Reserve would have been higher by = 14,665.23/- Lakh and the balance in Business Development Reserve would have

been = Nil.

However, the aggregate balance in Reserves and Surplus as at March 31, 2019 would have remained the same.

The same is created out of profits over the years and shall be utilised as per the provisions of the Act.

The company has elected to recognise changes in fair value of certain class of investments in other comprehensive income. These fair value changes are

accumulated within this reserve and shall be adjusted on derecognition of investment.

c) = 12,333.78 Lakh arising pursuant to amalgamation of Patanjali Consortium Adhigrahan Private Limited, a special purpose vehicle with and into the Company. [Refer Note

32(g)]


Annexure - VI


� in Lakh

Note - 13(a) As at

March 31, 2021

As at

March 31, 2020

As at

March 31, 2019

Borrowings

At Amortised CostA Term Loans from Banks [ Refer Note G and I below ]

Secured

- Rupee Loans # 224,993.50 235,642.79 -

B Working Capital Loans from Banks [ Refer Note H and I below ]

Secured

- Rupee Loans 1,777.78 - -

C Deferred payment liabilities

Unsecured

- Deferred Sales Tax Liability - - 1,444.07

D Cumulative Redeemable Preference Share

Unsecured

2,00,000 of face value of = 100/- each fully paid-up - - 163.20

E 0.0001% Non-Convertible Cumulative Redeemable Preference Share

Unsecured

4,50,00,000 of face value of = 100/- each fully paid-up 16,213.52 14,740.53 -

F 9% Unsecured Non-Convertible Cumulative Debentures

4,500 of face value of = 10,00,000/- each fully paid-up 45,000.00 45,000.00 -

287,984.80 295,383.32 1,607.27

# Net off of upfront fees amounting to = 1,206.50 Lakh (Previous year March, 2020 = 1,357.21 Lakh).

G Term loans referred to in (a) above and current maturities of long term borrowings referred in Note 16 (c)

Maturity Profile of Term Loans from banks is as under

� in Lakh

Financial Year Amount Financial Year Amount

2021-22 11,001.50 2025-26 33,600.00

2022-23 17,424.00 2026-27 36,048.00

2023-24 23,424.00 2027-28 42,000.00

2024-25 30,000.00 2028-29 43,704.00

H

Maturity Profile of Working capital loans from banks is as under

� in Lakh

Financial Year Amount

2021-22 5,583.33

2022-23 1,777.78

I

= 2,37,201.50/- Lakh (including current maturities of = 11,001.50/- Lakh) are secured by way of first pari passu charge on all immovable and movable non current assets, present

and future, of the Company. First pari passu charge over all the rights, titles, interest, benefits, claims and demand whatsoever, present or future. First pari passu charge on

intangibles, goodwill, uncalled capital, present and future. Second pari passu charge over all current assets (both present & future). Pledge of 100% of fully paid up equity shares

of the Company held by the promoters, on a pari passu basis, to lenders. Assignment of all rights of RSIL in and under the Take or Pay Agreement between Patanjali Ayurved

Limited and RSIL. Letter of comfort backed by board resolution issued by Patanjali Ayurved Limited, Patanjali Parivahan Pvt Ltd, Divya Yog Mandir Trust (upto March 30, 2021),

Yogakshem Sansthan (With effect from March 31, 2021) and Patanjali Gramudyog Nayas, and Personal Guarantees of the Directors of Patanjali Ayurved Limited.

The term loans agreement, inter-alia, include an option to convert the outstanding amounts into equity shares of the Company in the event of default under the Facility Agreements

or any other finance documents.

Term Loans are repayable in door to door 9.5 years from the date of first disbursement. In case, repayable is not completed within door to door 9.5 years, the promoter will infuse

additional resources to liquidate the term loans.

Working capital loans referred to in (b) above and current maturities of Working capital loans referred in Note 16 (c)

(i) Working Capital Loans are secured by first pari passu charge over all current assets (both present & future) of the Company. Second pari passu charge on all immovable and

movable non current assets, present and future. Second pari passu charge over all the rights, titles, interest, benefits, claims and demand whatsoever, present or future. First pari

passu charge on intangibles, goodwill, uncalled capital, present and future.Pledge of 100% of fully paid up equity shares of the Company held by the promoters, on a pari passu

basis, to lenders. Assignment of all rights of RSIL in and under the Take or Pay Agreement between Patanjali Ayurved Limited and RSIL. Letter of comfort backed by board

resolution issued by Patanjali Ayurved Limited, Patanjali Parivahan Pvt Ltd, Divya Yog Mandir Trust (upto March 30, 2021), Yogakshem Sansthan (With effect from March 31, 2021)

and Patanjali Gramudyog Nayas, and Personal Guarantee of the Directors of Patanjali Ayurved Limited.

(ii) Working Capital Loans are repayable in 24 months from the date of loan disbursement. In case, repayable is not completed within 24 months, the promoter will infuse additional

resources to liquidate the working capital loans.

Interest rates on above term loans and working capital loan from 6.95% to 10.60% p.a.

Pursuant to the continuing defaults of the Company in repayment of borrowings in previous years, a corporate insolvency resolution process(“CIRP”) under the Insolvency and

Bankruptcy Code, 2016 was initiated against the Company vide an order of the Mumbai Bench of the National Company Law Tribunal (“NCLT”) dated December 15, 2017. On

September 04, 2019, the NCLT approved the terms of the Resolution Plan submitted by the Consortium led by Patanjali Ayurved Limited (“PAL”). The accounting for the borrowings

was carried out considering the terms of such Resolution Plan. Refer Note 32 for details of effect of resolution plan & its accounting thereof. As all the borrowings were settled on

December 18, 2019, the details of security in respect of borrowings (Non-current and Current Borrowing) outstanding as on March 31, 2019 is not given.

(iii) The above working capital loan, inter-alia, include an option to convert the outstanding amounts into equity shares of the Company in the event of default under the Facility

Agreements or any other finance documents.


Annexure - VI


J (i)

(ii) Reconciliation of number of shares:-

Particulars As at

March 31, 2021

As at

March 31, 2020

As at

March 31, 2019

Preference Shares

Balance at the beginning of the years 45,000,000 200,000 200,000

Less: Shares reduction during the years - 200,000 -

Add: Shares issued during the years - 45,000,000 -

Balance at the end of the years 45,000,000 45,000,000 200,000

Details of shares held by shareholders holding more than 5% Preference share in the Company:-

March 31, 2021 % March 31, 2020 %

PREFERENCE SHARES

45,000,000 100 45,000,000 100

March 31, 2019 %

PREFERENCE SHARES

200,000 100

K

Preference Shares: 45,000,000 0.0001% Non-Convertible Redeemable Cumulative Preference Shares of = 100/- each were issued to the Patanjali Ayurved Limited in accordance

with the Resolution Plan as approved by the Hon'ble NCLT Mumbai. The same are repayable on December 16, 2031.

Debentures: 4500 Nos. 9% Unsecured Non-Convertible Cumulative Debentures of = 10,00,000/- each were issued to the Patanjali Ayurved Limited in accordance with the

Resolution Plan as approved by the Hon'ble NCLT Mumbai. The same are repayable on December 15, 2029.

Patanjali Ayurved Limited

Particulars

Particulars

Ruchi Infrastructure Limited


Annexure - VI


� in Lakh

As at

March 31, 2021

As at

March 31, 2020

As at

March 31, 2019

Note - 13(b)Other financial liabilities

Lease Liabilities (Refer Note (i) below) 1.56 2.07 -

Other Liability * 27,372.50 29,926.43 -

Interest accrued 4,784.62 1,173.34 -

32,158.68 31,101.84 -

* represents difference between issue price and fair value of preference shares to be amortised over the tenure.

Notes :� in Lakh

As at

March 31, 2021

As at

March 31, 2020

As at

March 31, 2019 40.12 - -

- 85.14 -

2.62 10.11 -

40.68 55.13 -

2.06 40.12 -

� in Lakh

As at

March 31, 2021

As at

March 31, 2020

As at

March 31, 2019 0.50 38.05 -

1.56 2.07 -

2.06 40.12 -

� in Lakh

Note - 14 As at

March 31, 2021

As at

March 31, 2020

As at

March 31, 2019

Other non current liabilities

(a) Government Grants - Deferred Income [Refer Note (i) below] 449.09 499.22 549.36 (b) Other Liabilities - 1.58 3.33

449.09 500.80 552.69 Note:(i) Government Grants - Deferred IncomeOpening Balance 549.36 600.63 652.09 Less: Released to profit and loss [Refer Note 20(C) (iv)] 50.14 51.27 51.45 Closing balance 499.22 549.36 600.64

- -

Classified under Non-Current Liabilities [Refer Note 14 (a)] 449.09 499.22 549.36 Classified under Current Liabilities [Refer Note 17 (c)] 50.13 50.14 51.28

� in Lakh

Note - 15 As at

March 31, 2021

As at

March 31, 2020

As at

March 31, 2019

Provisions

i) Provision for Compensated absences [Refer Note 18] 924.05 898.94 681.27

924.05 898.94 681.27

(ii) Effective April 01, 2019, the company has adopted Ind AS 116 ‘Leases’ under the modified simplified approach without adjustment of

comparatives. The Standard is applied to contracts that remain as at April 01, 2019. The application of the standard did not have any material

impact on the profit for the year ended March 31, 2020.

Less: Payment of lease liabilities

(i) The following is the movement in lease liabilities during the year :

Particulars

Opening Balance

Add: Addition during the year

Add: Finance cost accrued during the year

One year to five years

Total

Closing Balance

The following is the contractual maturity profile of lease liabilities:

Particulars

Less than one year


Annexure - VI


� in Lakh

Note - 16 (a) As at

March 31, 2021

As at

March 31, 2020

As at

March 31, 2019

Borrowings

At Amortised CostA Loans repayable on demand

Secured From Banks Working Capital Loans 61,025.20 53,504.93 725,950.20

Short term Loans - 9,525.00 - From Others Working Capital Loans - - 2,000.00

B Intercorporate Deposit - - 30.00

61,025.20 63,029.93 727,980.20

C

� in Lakh

Note - 16 (b) As at

March 31, 2021

As at

March 31, 2020

As at

March 31, 2019

Trade payables due to

Micro and Small Enterprises 216.22 403.19 433.96 Related parties [Refer Note 39] 647.97 404.66 56,101.27

Other than Micro and Small Enterprises 65,193.13 15,681.64 166,324.92

66,057.32 16,489.49 222,860.15

Note:(i)

� in Lakh

March 31, 2021 March 31, 2020 March 31, 2019

Principal amount due and remaining unpaid 189.02 615.46 966.13

Interest due on above and the unpaid interest 170.69 161.28 310.65

Interest paid - - -

Payment made beyond the appointed day during the years 2,285.94 8,343.28 8,252.80

Amount of interest due and payable for period of delay in making payment

excluding interest specified under MSMED Act

- - -

Interest accrued and remaining unpaid 170.69 161.28 310.65

Amount of further interest remaining due and payable in succeeding years - - -

(i) Working Capital Loans and Short term loan are secured by first pari passu charge over all current assets (both present & future) of the Company.

Second pari passu charge on all immovable and movable non current assets, present and future. Second pari passu charge over all the rights, titles,

interest, benefits, claims and demand whatsoever, present or future. First pari passu charge on intangibles, goodwill, uncalled capital, present and

future.Pledge of 100% of fully paid up equity shares of the Company held by the promoters, on a pari passu basis, to lenders. Assignment of all rights of

RSIL in and under the Take or Pay Agreement between Patanjali Ayurved Limited and RSIL. Letter of comfort backed by board resolution issued by

Patanjali Ayurved Limited, Patanjali Parivahan Pvt Ltd, Divya Yog Mandir Trust (upto March 30, 2021), Yogakshem Sansthan (With effect from March 31,

2021) and Patanjali Gramudyog Nayas, and Personal Guarantee of the Directors of Patanjali Ayurved Limited.

Particulars

(ii) Working Capital Loans are repayable on demand and Short term loan To be repayable in 12 months. In case, repayable is not completed within 12

months, the promoter will infuse additional resources to liquidate the short term loan.

(iii) The above short term loans and working capital loan, inter-alia, include an option to convert the outstanding amounts into equity shares of the

Company in the event of default under the Facility Agreements or any other finance documents.

The Company has identified (based on information available) Micro, Small and Medium Enterprises as those registered under Micro, Small and Medium

Enterprises Development Act, 2006 (‘MSMED Act’).

As at


Annexure - VI


Note - 16 (c) � in Lakh

Other Financial liabilities As at

March 31, 2021

As at

March 31, 2020

As at

March 31, 2019

Term Loans from Banks Secured - Rupee Loans - - 32,109.31

- Foreign Currency Loans - - 25,367.42

Current maturities Rupee Loans - Term Loan 11,001.50 3,000.00 - - Working capital loans 5,583.33 - -

Deferred Sales Tax Liability [ Refer Note 13a C ] - - 4,474.54

Finance Lease Obligations - - 12.47

Liability against CIRP Payables [Refer note (ii) & (iii) below] 16,307.54 21,729.62 - Interest accrued 1,436.68 2,129.08 76,684.29 Unclaimed Dividends [Refer note (i) below] 6.63 12.40 17.31 Agency & Other Deposits 1,973.68 1,202.53 1,003.08 Customers Advances [Refer note (v) below] - - 94,254.73

Derivative Liability - Commodity Contracts - 156.15 - Financial Guarantee Obligation - - 10,489.64 Earnest Money deposit received for CIR Process - - 25,050.18 Provision for Sales Scheme 755.30 711.04 677.55 Creditors for capital expenditure 97.79 107.06 73.33 Other financial liabilities [Refer note (iv) below] 2,546.96 2,040.40 6,822.41 Lease Liabilities [Refer note 13(b) (i)] 0.50 38.05 -

39,709.91 31,126.33 277,036.26

Note:

(i)

(ii)

(iii)

(iv)

(v) As the Company has not been able to make the scheduled Exports as per the agreement, these customer advances are now repayable and hence are

classified as financial liability. Interest on this had been provided till December 15, 2017. Debit balance of one of the customer amounting to = 15,859.06

Lakh against export is net off against the same.

Includes = 10,064.58 Lakh payable to DBS Bank Limited and = 2,918.47 Lakh payable to ICICI Bank Limited pursuant to on-going case at Hon'ble

Supreme Court which are mentioned below.

DBS Bank: DBS Bank. had filed an application before Hon’ble National Company Law Tribunal, Mumbai (“NCLT”) seeking a prayer to set-aside the

decision of Committee of Creditors of the Company to the extent of the distribution of proceeds of the Resolution Plan and to restrain the Resolution

Applicant from distributing the proceeds of the Resolution Plan. NCLT ordered against DBS Bank by dismissing the application. NCLT order was

challenged before the Hon’ble National Company Law Appellate Tribunal (“NCLAT”) and NCLAT dismissed the appeal. NCLAT order has now been

challenged before Supreme Court by DBS Bank. Since, there was no stay or order against the distribution of proceeds of Resolution Plan, the proceeds

have been distributed in terms of Escrow Agreement and the Resolution Plan has been successfully implemented. There is no further liability of the

Company or the Resolution Applicant towards DBS Bank.

ICICI Bank: The erstwhile Resolution Professional, Mr. Shailendra Ajmera, had filed an application before Hon’ble National Company Law Tribunal,

Mumbai (“NCLT”) seeking a prayer to reverse the preferential transactions undertaken by ICICI Bank Limited. NCLT vide its order dated March 12, 2019

directed ICICI Bank Limited to reverse the said transactions and deposit in the bank account of the Company, the amount withdrawn in such preferential

transactions. ICICI Bank Limited had subsequently challenged the order of NCLT before National Company Law Appellate Tribunal (“NCLAT”). NCLAT

passed the order in favour of ICICI Bank Limited by setting aside the order of NCLT. NCLAT order has now been challenged by the erstwhile Resolution

Professional before Supreme Court which is still pending. The Company had filed an application before the Supreme Court seeking substitution of

Resolution Professional of the Company with Ruchi Soya Industries Limited since the corporate insolvency resolution process has been completed. The

said application has been allowed by the Supreme Court and RSIL is now the Appellant.

Liability against CIRP Payables is amount payable to financial and operational creditors is kept in separate escrow accounts. As per escrow agreement

any amount unpaid in this Account is deemed to be utilised and the Company has no right, title and claim on the same.

Pursuant to the Resolution Plan, liabilities related to foreign financial and operational creditors are partially/fully extinguished. Accordingly approval

application for the same is filed in RBI.

Other financial liabilities include = NIL [Previous Year March, 2020 = 11.34 Lakh and March, 2019 = 33.49 Lakh] due to Related parties. [Refer Note 39]

There are no amounts due for payment to the Investor Education and Protection Fund under Section 125 of the Companies Act, 2013 as at the year end.


Annexure - VI


� in Lakh

Note - 17 As at

March 31, 2021

As at

March 31, 2020

As at

March 31, 2019

Other current liabilities

(a) Customers' Advances 4,157.84 6,273.84 2,017.07

(b) Other liabilities (Including Statutory Dues Payable ) [Refer Note (i) below] 1,823.16 4,532.17 8,370.98

(c) Government Grant - Deferred Income [Refer Note 14 (a)] 50.13 50.14 51.28

6,031.13 10,856.15 10,439.33

Note:

Note - 18 � in Lakh

Provisions As at

March 31, 2021

As at

March 31, 2020

As at

March 31, 2019

i) Provision for Compensated absences 127.52 111.18 176.18

127.52 111.18 176.18

The Company contributes to the following post-employment defined benefit plans in India.

A.

B. Defined Benefit Plan:

a) Gratuity

b) Leave Obligations

Defined Contribution Plans:

The Company has certain defined contribution plans. Contributions are made to provident fund in India for employees at the specified rate as per regulations. The contributions are made to registered

provident fund administered by the Government of India. The obligation of the Company is limited to the amount contributed and it Company has no further contractual, or any constructive obligation. The

Company has recognised = 745.40 Lakh [Previous Year March, 2020 = 768.84 Lakh and March, 2019 = 670.39 Lakh] towards contribution to Provident Fund and = 55.90 Lakh [Previous Year March, 2020 =

85.25 Lakh and March, 2019 = 122.03 Lakh] towards Employee State Insurance in Profit and Loss account.

Employees who are in continuous service for a period of 5 years are eligible for gratuity. The amount of gratuity payable on retirement/termination/resignation is the employees last drawn basic salary per

month computed proportionately for 15 days salary multiplied for the number completed years of service. The gratuity plan is a funded plan and Company makes annual contributions to the Group Gratuity

cum Life Assurance Schemes administered by the LIC of India, a funded defined benefit plan for qualifying employees.

The most recent actuarial valuation of plan assets and the present value of the defined benefit obligation for gratuity were carried out as at March 31, 2021. The present value of the defined benefit

obligations and the related current service cost and past service cost, were measured using the Projected Unit Credit Method.

The leave obligations cover the Company's liability for casual, sick & earned leave. The amount of the provision is presented as current, since the Company does not have an unconditional right to defer

settlement for any of these obligations. However, based on past experience, the Company does not expect all employees to take the full amount of accrued leave or require payment within the next 12

months.

Based on the actuarial valuation obtained in this respect, the following table sets out the status of the gratuity plan and the amounts recognised in the Company’s financial statements as at balance sheet

date:

(i) Other current liabilities include = NIL [Previous Year March 2020, = 45.29 Lakh and March 2019, = NIL] due to related parties.[ Refer Note 40]


Annexure - VI


� in Lakh

March 31, 2021 March 31, 2021 March 31, 2020 March 31, 2020 March 31, 2019 March 31, 2019

Gratuity Leave Encashment Gratuity Leave Encashment Gratuity Leave Encashment

Defined benefit obligation 2,961.91 1,051.57 2,775.38 1,010.12 2,389.67 857.45

Fair value of plan assets 3,245.89 - 3,080.01 - 3,084.94 -

Net defined benefit (obligation)/assets 283.98 (1,051.57) 304.63 (1,010.12) 695.27 (857.45)

Non-current [Refer Note 15] - (924.05) - (898.94) - (681.27)

Current 283.98 (127.52) 304.63 (111.18) 695.27 (176.18)

Movement in net defined benefit (asset) liability

� in Lakh

Gratuity Leave Encashment Gratuity Leave Encashment Gratuity Leave Encashment

Defined benefit obligations

Opening balance 2,775.38 1,010.12 2,389.67 857.46 2,130.02 811.94

Current service cost 220.98 139.07 189.15 149.71 159.70 142.58

Past service cost - - - - - -

Interest cost (income) 187.11 69.24 191.83 71.18 167.85 63.98

3,183.47 1,218.43 2,770.65 1,078.35 2,457.57 1,018.50

Included in OCI

Demographic assumptions - - - - 11.66 (3.23)

Financial assumptions 5.09 1.85 496.08 185.33 32.60 11.37

Experience adjustment 70.24 161.32 (227.10) (9.15) 126.51 42.97

3,258.80 1,381.60 3,039.63 1,254.53 2,628.34 1,069.61

Other

Contributions paid by the employer - (330.03) - (244.41) - (212.16)

Benefits paid (296.89) - (264.25) - (238.67) -

Closing balance 2,961.91 1,051.57 2,775.38 1,010.12 2,389.67 857.45

Fair value of plan asset

Opening balance 3,080.01 - 3,084.94 - 2,411.92 56.12

Interest income 193.53 - 219.02 - 190.06 0.64

3,273.54 - 3,303.96 - 2,601.98 56.76

Included in OCI

Experience adjustment 23.83 - (12.75) - 10.08 -

3,297.37 - 3,291.21 - 2,612.06 56.76

Other

Contributions paid by the employer 245.41 - 53.05 - 711.56 (56.76)

Benefits paid (296.89) - (264.25) - (238.67) -

Closing balance 3,245.89 - 3,080.01 - 3,084.95 -

March 31, 2020 March 31, 2019March 31, 2021

The following table shows a reconciliation from the opening balances to the closing balances for net defined benefit (asset) liability and its components


Annexure - VI


Represented by

Net defined benefit asset 283.98 - 304.63 - 695.27 -

Net defined benefit liability - 1,051.57 - 1,010.12 - 857.45

283.98 1,051.57 304.63 1,010.12 695.27 857.45

Expense recognised in Statement of Profit and

LossCurrent service cost 220.98 139.07 189.15 149.71 159.70 142.58

Net Interest cost (6.41) 69.23 (27.19) 71.18 (22.21) 63.34

Actuarial (gain)/loss on obligation for the year - 163.18 - 176.19 - 51.11

Past service cost - - - - - -

Expense recognised in Statement of Profit and

Loss

214.57 371.48 161.96 397.08 137.49 257.03

Expense recognised in Other Comprehensive

Income (OCI)Actuarial (gain)/loss on obligation for the year 75.33 - 268.98 - 170.77 -

Return on plan assets excluding interest income (23.83) - 12.75 - (10.08) -

Net (Income)/ Expense for the year recognized

in OCI [ Refer Note 31 A (I) (i)]

51.50 - 281.73 - 160.69 -

C. Plan assets � in Lakh

Plan assets comprise the following Gratuity Leave Encashment Gratuity Leave Encashment Gratuity Leave Encashment

March 31, 2021 March 31, 2021 March 31, 2020 March 31, 2020 March 31, 2019 March 31, 2019

Investment in LIC India

Insurer managed fund (100%) 3,245.89 - 3,080.01 - 3,084.95 -

3,245.89 - 3,080.01 - 3,084.95 -

D. Defined benefit obligations

i. Actuarial assumptions

The following were the principal actuarial assumptions at the reporting date (expressed as weighted averages).

Particulars

Discount rate

Salary escalation rate

Rate of return on plan assets

Retirement Age

Attrition Rate

Mortality Rate

ii. Sensitivity analysis

Indian Assured Lives Mortality (2006-08)

7.50%

6.87%

For service 4 years & below 10.31% p.a. & For

service 5 years and above 2% p.a.


Reasonably possible changes at the reporting date to one of the relevant actuarial assumptions, holding other assumptions constant, would have affected the defined benefit obligation by the amounts

shown below.

March 31, 2019

7.88%

6.00%

7.88%

58 Years & 60 Years

6.87%

58 Years & 60 Years



March 31, 2021 March 31, 2020

6.85%

7.50%

6.85%

58 Years & 60 Years





Annexure - VI


� in Lakh

Increase Decrease Increase Decrease Increase Decrease

Discount rate (1% movement) (237.51) 237.60 (237.60) (162.83) (162.83) 185.99

Future salary growth (1% movement) 259.42 260.33 260.33 177.87 177.87 (159.13)

Employee Turnover (1% movement) 12.35 12.20 12.20 (25.73) 23.14 (25.73)

Average Expected Life 12 Years 12 Years 12 Years 12 Years 12 Years 12 Years

iii) Expected Contributions in next year � in Lakh

Particulars March 31, 2021 March 31, 2020 March 31, 2019

Provident Fund 788.77 815.54 620.21

� in Lakh

Note - 19 As at

March 31, 2021

As at

March 31, 2020

As at

March 31, 2019

Liabilities directly associated with assets classified as held for sale

Other Current Liabilities (Refer Note 10) 173.00 173.00 173.00

173.00 173.00 173.00

Although the analysis does not take account of the full distribution of cash flows expected under the plan, it does provide an approximation of the sensitivity of the assumptions shown.

March 31, 2021 Particulars March 31, 2020 March 31, 2019


Annexure - VI


� in Lakh

Note - 20

Revenue from operations

A Sales of products 1,612,651.31 1,302,583.46 1,266,027.50

B Sale of Services

Processing charges received 622.98 1,685.58 2,286.40

C Other Operating revenue

(i) Income from Plant usage 15,000.00 3,125.86 -

(ii) Government grants [Refer Note 14 (a)] 50.14 51.27 51.45

3,538.87 4,332.64 4,557.96

1,631,863.30 1,311,778.81 1,272,923.31

� in Lakh

Note - 21 For the year ended

March 31, 2021

For the year ended

March 31, 2020

For the year ended

March 31, 2019

Other Income

A Interest Income (under the effective interest method)

- On Fixed Deposits 771.73 2,231.87 1,034.46

- Others 443.66 241.08 127.67

- Redeemable Preference Shares 2,553.93 727.69 -

B Net Gain on sale of Investment 49.38 6.02 359.74

C Lease Rental income 241.53 62.45 127.99

D Other Non-Operating Income

- Excess Provision/Liabilities no longer required written back 146.08 687.80 5,130.70 - Sales Tax and customs Refund - - 58.56 - Income of investment 116.40 102.68 89.80 - Other Receipts 706.62 550.33 347.24

E Fair value adjustments for Investments (net) - - 9.92

F Export Incentive 1,405.08 1,147.83 2,716.17 6,434.41 5,757.75 10,002.25

� in Lakh


March 31, 2021

For the year ended

March 31, 2020

For the year ended

March 31, 2019

Cost of Materials Consumed

a) Raw Material 1,353,462.13 1,081,189.95 1,050,923.02

b) Packing Material 46,201.14 45,058.90 45,866.55

1,399,663.27 1,126,248.85 1,096,789.57

� in Lakh


March 31, 2021

For the year ended

March 31, 2020

For the year ended

March 31, 2019

Purchases of Stock-in-Trade 51,802.45 38,683.09 35,535.68

� in Lakh


March 31, 2021

For the year ended

March 31, 2020

For the year ended

March 31, 2019

Changes in inventories of Finished goods, Work-in-progress and Stock in Trade

Finished goods

Opening Stock 61,340.83 53,798.72 61,486.86

Closing Stock 95,741.06 61,340.83 53,798.73

(34,400.23) (7,542.11) 7,688.13

Work-in-progress

Opening Stock 550.46 487.15 485.58

Closing Stock 726.98 550.46 487.15

(176.52) (63.31) (1.57)

Traded goods

Opening Stock 53.20 57.43 250.75

Closing Stock 239.28 53.20 57.43

(186.08) 4.23 193.32

(34,762.83) (7,601.19) 7,879.88

For the year ended

March 31, 2021

For the year ended

March 31, 2020

(iii) Income from Power generation

For the year ended

March 31, 2019


Annexure - VI


� in Lakh


March 31, 2021

For the year ended

March 31, 2020

For the year ended

March 31, 2019

Employee benefits expense

Salary, Wages and Bonus 12,272.53 13,433.69 13,533.43 Contribution to Provident and Other Funds 805.18 859.35 798.91 Gratuity [Refer Note 18] 214.57 161.96 137.49 Leave Compensation Absences [ Refer Note 18] 371.48 397.08 257.03 Staff Welfare expenses 299.25 418.73 392.10

13,963.01 15,270.81 15,118.96

� in LakhNote - 26 For the year ended

March 31, 2021

For the year ended

March 31, 2020

For the year ended

March 31, 2019

Finance costs

Interest Expense 35,073.01 10,599.49 481.41 Other borrowing costs 525.87 237.34 217.66

Redeemable Preference Shares 1,472.99 394.65 - 37,071.87 11,231.48 699.07


March 31, 2021

For the year ended

March 31, 2020

For the year ended

March 31, 2019

Depreciation and Amortisation Expenses

Depreciation on Plant, property and Equipment 13,308.69 13,555.96 13,772.29

Amortisation on Intangible assets 16.40 21.40 52.15

13,325.09 13,577.36 13,824.44


March 31, 2021

For the year ended

March 31, 2020

For the year ended

March 31, 2019

Provision for Doubtful Debts/ Advances, Expected credit loss, Write off (Net)

Provision for Expected Credit Loss 166.92 1,598.07 -

Provision for Doubtful Debts/Advances - 585.24 1,340.25

Bad debts & advances Written off - 573,369.88 -

(Less): Provision for Trade Receivables/Advances Written back - (573,369.88) -

166.92 2,183.31 1,340.25

Note:(a)


March 31, 2021

For the year ended

March 31, 2020

For the year ended

March 31, 2019

Other Expenses

Manufacturing Expenses

Manufacturing expenses 8,811.28 8,736.83 8,480.79

Consumables 7,089.57 7,717.34 8,047.12 Consumption of Stores & Spares parts 4,549.75 4,683.63 4,385.69

Power & Fuel (net of recoveries) 17,080.66 19,543.66 20,042.01 Lease Rental expenses 2,567.91 2,449.03 2,484.88 Repairs and Maintenance

- Plant & Machinery 2,537.32 2,262.98 1,856.07 - Buildings 192.98 253.47 211.28 - Others 603.72 595.27 617.28

43,433.19 46,242.21 46,125.12

Selling and distribution expenses

Freight & forwarding (net of recoveries) 34,116.45 28,684.23 32,704.71 Export expenses 1,286.51 707.27 1,543.50

2,493.10 5,757.48 4,158.80

37,896.06 35,148.98 38,407.01

Establishment and Other expenses

Rates & Taxes 834.98 678.01 765.71

Insurance 1,442.39 1,051.99 1,035.57

Payment to Auditors [Refer Note I below] 118.50 100.30 93.30

Legal & Professional 719.58 2,639.09 1,818.36

Corporate Social Respopnsibility (CSR) [Refer Note II below] 1,000.00 - -

Directors Sitting Fee 33.50 4.00 - Net Loss on Sale/Discard of Fixed Assets 66.38 443.69 414.83 Net (Gain) on Sale/Loss on foreign currency transaction/translation 270.54 934.53 1,351.84

Impairment in value of Investment 128.76 464.69 276.79 Net Loss arising on financials assets designated at fair value through profit loss - 27.94 -

Travelling & conveyance 595.42 979.34 1,040.13

Bank Commission & charges 187.43 33.63 42.10

Net Loss of Commodity Hedging 9,285.72 - -

Other expenses (Net of recoveries) 9,615.46 8,156.07 12,694.94 24,298.66 15,513.28 19,533.57

105,627.91 96,904.47 104,065.70

Advertisement & sales promotion

As per Ind AS -109 on Financial Instruments the Company has applied Expected credit loss model for determining the provision for trade receivable based on the

weighted average of credit losses with respective risks of defaults occurring as weights.


Annexure - VI


� in Lakh

For the year ended

March 31, 2021

For the year ended

March 31, 2020

For the year ended

March 31, 2019

Note:

(I) Payment to Auditors :-

(i) Remuneration to the Statutory auditors

(a) As Auditors

-For Statutory Audit 62.00 53.00 53.00

-For Tax Audit - 11.00 11.00

-For Limited Review, Interim audit & Certification Charges 52.10 31.90 24.90

(ii) Remuneration to Cost Auditors 4.40 4.40 4.40

(II) Disclosure in respect of Corporate social responsibility expenses :-

(i) Gross amount required to be spent during the year* - - -

(ii) Amount spent during the year*

- Construction/acquisition of any asset -

- On purposes other than above 1,000.00 - -

� in Lakh


March 31, 2021

For the year ended

March 31, 2020

For the year ended

March 31, 2019

Exceptional Items

- 749,023.01 (4,259.12) Exceptional Items

* Based on the legal opinion obtained by the Company gain on account of derecognition of liabilities as per resolution plan is considered as notional gain for

computation of profit under section 198 of the Act.

Exceptional items (net) for the year ended March 31, 2020 comprises of:-

a) Impairment of refund receivable against Commercial Tax / VAT and Central Sales Tax amounting to = 4,259.12 Lakh.

a) De-recognition of liabilities amounting to = 7,52,560.48 Lakh as described in note no. 32(e).

b) Impairment of Capital Work in Progress and Property, Plant and Equipment of = 3,537.47 Lakh.

These adjustments, having one- time, non-routine material impact on the financial statements hence, the same has been disclosed as "Exceptional Items" in the

Financial Statements.

Exceptional items for the year ended 31st March 2019 comprises of:-


Annexure - VI


� in Lakh


March 31, 2021

For the year ended

March 31, 2020

For the year ended

March 31, 2019

Other Comprehensive Income

I Item that will not be reclassified to profit or loss

(i) Remeasurement of the defined benefit plans [Refer Note 12 H] (51.50) (281.73) (160.69)

(ii) Equity Instruments through Other Comprehensive Income [Refer Note 12 G] 1,125.45 (362.77) (471.88)

1,073.95 (644.50) (632.57)


Annexure - VI


Note - 32

b) The erstwhile promoter group has been reclassified as public shareholders under regulation 31A of the SEBI (Listing

Obligations and Disclosure Requirements) Regulations, 2015.

Pursuant to the Resolution Plan submitted by the Consortium of Patanjali Ayurved Limited, Divya Yog Mandir Trust (through its

business undertaking, Divya Pharmacy), Patanjali Parivahan Private Limited and Patanjali Gramudhyog Nyas (Collectively

referred to as the "Resolution Applicant") and its approval by the Hon'able National Company Law Tribunal, Mumbai bench,

vide their orders dated July 24, 2019 and September 4, 2019 for the corporate insolvency of the Company, which is

implemented from December 18, 2019 (i.e. closing date as defined under the resolution plan) otherwise as stated in below

notes, the following consequential impacts have been given in accordance with approved resolution plan / Accounting

Standards during the previous year ended March 31, 2020:-

a) The existing directors of the Company as on the date of order have stand replaced by the new Board of Directors from their

office with effect from December 18, 2019. As on closing date Board consist of Acharya Balkrishna (Chairman and Managing

Director), Swami Ramdev (Non-Executive Director), Ram Bharat (Whole Time Director), Rajat Sharma (Independent Director),

Girish Ahuja (Independent Director), Bhavna Shah (Independent Director).

i. On and from the closing date i.e. December 18, 2019 , all assets amounting to = 4,40,416.97 Lakh, liabilities amounting to =

3,32,233.19 Lakh stand transferred and vested in the Company with effect from the closing date.

c) The authorised share capital of the Patanjali Consortium Adhigrahan Private Limited as on closing date i.e. December 18,

2019 is merged with the authorised share capital of the Company. As a result, authorised share capital of the Company is

increased from 25,305.00 Lakh consisting of 1,01,02,50,000 equity shares of = 2 each and 51,00,000 preference shares of =

100 each to = 95,305.00 Lakh consisting of 2,11,20,50,000 equity shares of = 2 each and 5,30,64,000 preference shares of =

100 each.

d) With effect from December 17, 2019, the existing issued, subscribed and paid up equity share capital of the Company has

been reduced from = 6,682.01 Lakh divided into 33,41,00,722 equity shares of = 2 each to = 66.82 Lakh divided into 33,41,007

equity share of = 2 each thereby reducing the value of issued, subscribed and paid up equity share capital of the Company by

= 6,615.19 Lakh. Further, with effect from December 17, 2019, the existing issued, subscribed, paid up 2,00,000 cumulative

redeemable preference shares of = 100 each stand fully cancelled and extinguished. As prescribed in the Resolution Plan, the

reduction in the share capital of the Company amounting to = 6,632.75 Lakh is adjusted against the debit balance as appearing

in its profit and loss account (i.e. retained earnings).

e) In respect of de-recognition of operational and financial creditors, difference amounting to = 7,52,560.48 Lakh between the

carrying amount of financial liabilities extinguished and consideration paid, is recognised in statement of profit or loss account

in accordance with "Ind AS - 109" on "Financial Instruments" prescribed under section 133 of the Companies Act, 2013 and

accounting policies consistently followed by the Company and disclosed as an "Exceptional items". Further, these write back

includes foreign parties of creditors, advances and lenders for which intimations / obtaining approval of Reserve Bank of India

(RBI) are under process.

f) Out of funds received amounting to = 4,35,000 Lakh, = 4,23,500 Lakh was to be utilised towards settlement of claims of

creditors and = 11,500 Lakh for improving the operations of the Company. Out of above, as on March 31, 2021, amount of =

4,07,192.46 Lakh (Previous year = 4,01,770.38 Lakh) has been used to settle existing secured financial creditors, unsecured

financial creditors (other than related parties), statutory dues, operational creditors (other than a related party) CIRP costs and

pending utilisation = 16,307.54 Lakh (Previous year = 21,729.62 Lakh) is kept in separate escrow accounts. As per escrow

agreement any amount unpaid in this account is deemed to be utilised and the Company has no right, title and claim on the

same.

g) Amalgamation of the Patanjali Consortium Adhigrahan Private Limited, a special purpose vehicle with and into the

Company: -

ii. In consideration for the amalgamation, the Company has issued: -

1 (one) equity shares of face value of = 2 for every 1 (one) equity share of face value of = 7 of SPV, aggregating 29,25,00,000

equity shares of = 5,850.00 Lakh are issued.


Annexure - VI


The details of assets and liabilities transferred from SPV Company are as under:

� in Lakh

ASSETS

Non-Current Assets

Financial Assets (Loan Given) 435,000.00

435,000.00

Current Assets

Cash & Cash Equivalents 5,038.37

Other Financial Assets 378.60

5,416.97

Total Assets (A) 440,416.97

LIABILITIES

Non-Current Liabilities

Borrowings 238,599.44

238,599.44

Current Liabilities

Borrowings 89,525.00

Trade Payables 7.74

Other Financial Liabilities 4,101.01

93,633.75

Total Liabilities (B) 332,233.19

Net Assets transferred from SPV Company 108,183.78

Less: Equity Shares issued to shareholders of SPV Company 5,850.00

Less: Preference Shares issued to shareholders of SPV Company 45,000.00

Less: Debentures issued to shareholders of SPV Company 45,000.00 Net amount transferred to Capital Reserve 12,333.78

Total Reserves arising pursuant to Amalgamation 12,333.78

h) Transfer of subsidiaries - As a part of the Resolution Plan, the Company has transferred identified entities to the identified

buyer its entire equity investment/ownership interest held in the those identified entities, at a fair market value on "as is where

is" and "as is whatever is" basis.

1 (one) 0.0001% cumulative redeemable preference share of face value of = 100 each for every 1 (one) 0.0001% cumulative

redeemable preference share of face value of = 100 each of the SPV, aggregating 4,50,00,000 preference share of = 45,000.00

Lakh are issued.

1 (one) 9% cumulative non-convertible debenture of face value of = 10,00,000 for every 1 (one) 9% cumulative non-

convertible debenture of face value of = 10,00,000 each of SPV, aggregating 4,500 debentures of = 45,000.00 Lakh are issued.

Consequent to the foregoing, the paid-up equity share capital and preference share capital of the Company is increased to =

5,916.82 Lakh and = 45,000 Lakh, respectively.


Annexure - VI


� in Lakh

Note - 33 As at

March 31, 2021

As at

March 31, 2020

As at

March 31, 2019

Contingent liabilities and commitments

A Contingent liabilities

a) Claims against the Company not acknowledged as debts ( to the

extent quantified) -# -#

3,095.15

b) Guarantees

(i) Outstanding bank Guarantees 8,340.67 3,468.70 1,866.72 (ii) Outstanding corporate guarantees given on behalf of

-Indian Associate (Sanctioned amount = NIL [Previous Year = 9,600.00/- Lakh

]) -# -#

3,726.00

c) Other Money for which Company is Contingently liable(i) Disputed Demand:

1. Excise Duty -# -# 8,811.87 2. Service Tax -# -# 1,542.36 3. Customs Duty -# -# 18,429.42 4. Income tax -# -# 3,093.16 5. Other Acts -# -# 29.37 6. Sales Tax -# -# 83,456.94

(ii)

(iii)

(iv)

(v)

(vi)

(vii) EPCG Licences benefit in event of default of Export Obligation -# -# 20.98

B Commitments

a) Estimated amount of contracts remaining to be executed on capital account

and not provided for (Net of advances)

356.50 124.70 145.98

b) Other Commitments

Export Obligations in relation to EPCG Benefits -# -# 716.49

The Honourable Supreme Court, has passed a decision on February 28, 2019 in relation to inclusion of certain allowances within the scope of “Basic

wages” for the purpose of determining contribution to provident fund under the Employees Provident Funds & Miscellaneous Provisions Act, 1952. The

Company is awaiting further clarifications in this matter in order to reasonably assess the impact on its financial statements, if any. Accordingly, the

applicability of the judgement to the Company, with respect to the period and the nature of allowances to be covered, and resultant impact on the past

provident fund liability, cannot be reasonably ascertained, at present.

#As per approved resolution plan, the contingent liabilities and commitments, claims and obligations, stand extinguished and accordingly no outflow of economic

benefits is expected in respect thereof. The Resolution plan, among other matters provide that upon the approval of this Resolution Plan by the National Company

Law Tribunal (NCLT) and settlement and receipt of the payment towards the IRP Costs and by the creditors in terms of this plan, all the liabilities demands,

damages, penalties, loss, claims of any nature whatsoever (whether admitted/verified/submitted/rejected or not, due or contingent, asserted or unasserted,

crystallised or uncrystallised, known or unknown, disputed or undisputed, present or future) including any liabilities, losses, penalties or damages arising out of

non-compliances, to which the Company is or may be subject to and which pertains to the period on or before the Effective Date (i.e. September 06, 2019) and

are remaining as on that date shall stand extinguished, abated and settled in perpetuity without any further act or deed. The Resolution plan further provides that

implementation of resolution plan will not affect the rights of the Company to recover any amount due to the Company and there shall be no set off of any such

amount recoverable by the Company against any liability discharged or extinguished.

As note given above, the following are also not considered as contingent liabilities as on March 31, 2021 and March 31, 2020:-

During an earlier year i.e. on January 3, 2012, the Company had received claims amounting to US$ 662,67,857.31 ( to the extent quantified) from two

overseas entities (claimants) in respect of performance guarantees purportedly given by the Company as a second guarantor on behalf of an overseas

entity in respect of contracts entered into between the claimants and the overseas entity having jurisdiction in the southern district of New York. The

Company denies giving the guarantees and has disputed the claims and is has taken appropriate legal actions and making suitable representations in

the matter. The Company does not expect that any amount will become payable in respect of the claims made. No provision is made in respect of the

same in the books of account.

In relation to trading in Castor seed contracts on National commodity and Derivative Exchange limited ( NCDEX), pending investigation by Securities

and Exchange Board of India [ SEBI], amount of liability, if any, can not be ascertained at this stage.

The Competition Commission of India has issued a notice under section 36(2) read with section 41(2) of The Competition Act, 2002 (the Act) into

alleged violations of the said Act. The Company has made representation in the matter from time to time. Later a investigation by Director General was

initiated under section 26(1) of the Act. The hearing was completed on June 28, 2016 and Competition Commission of India had passed an order

clearly stating that there was no contravention of the Provisions of the Act. Aggrieved by the same, the other party filed the writ petition in High Court

in Delhi on April 25, 2017 challenging the order of the Competition Commission of India. The final order of the High Court is awaited. Pending receipt of

the order, liability, if any, that may arise in this regard cannot be ascertained at this stage.

(a) Deputy State Tax Commissioner Corporate, Rajkot, Gujarat, during inspection under Gujarat Value Added Tax Act-2003 alleged that dealers from

whom purchases were made by the Company during FY 2013-2014 to 2017-2018 have not paid tax to government treasury in its Order dated

September 26, 2013 and due to that input credit claimed by the Company is not eligible. It is also alleged that the Company has not done transactions

on market price. Therefore, provisional demand of = 16,207.77/- Lakh of Tax and = 24,311.66/-Lakh of penalty aggregating to = 40,519.43/- Lakh have

been made against the Company and impounded Company’s plants at Kandla which include Refinery, Oleochem and Guargum Division. The Company

has made submissions including stay application on October 13, 2013 and following up the matter with the appropriate authorities. The Company,

based on merits of the case, does not expect material liability on this account hence no provision has been made in the books of accounts for the year

ended March 31, 2018.

(b) Deputy State Tax Commissioner Corporate, Rajkot, Gujarat, during inspection under Gujarat Value Added Tax Act-2003 alleged that dealers from

whom purchases were made by the Company during FY 2013-2014 to 2017-2018 have not paid tax to government treasury in its Order dated

September 26, 2013 and due to that input credit claimed by the Company is not eligible. It is also alleged that the Company has not done transactions

on market price. Therefore, demand of = 13,441.18/- Lakh of Tax and = 28,835.63/- Lakh of penalty aggregating to = 43,276.81/- Lakh have been

made against the Company and Company’s plants at Kandla which include Refinery, Oleochem and Guargum Division has been impounded. The

Company has made submissions including stay application on October 13, 2013 and following up the matter with the appropriate authorities. The

Company, based on merits of the case, does not expect material liability on this account hence no provision has been made in the books of accounts.

Furthermore, Gujarat High Court passed an order in this matter pursuant whereby the retrospective cancellation of registration has stayed and the

matter is remanded to Tribunal for further hearing, which is pending.


Annexure - VI


Note - 34

Note - 35

Note - 36

� in Lakh

Particulars As at

March 31, 2021

As at

March 31, 2020

As at

March 31, 2019

NIL NIL 0.23 NIL NIL NILNIL NIL NIL

NIL NIL NIL

(a) Loans & Advance in the nature of loans to Subsidiaries(b) Loans & Advance in the nature of loans to Associates (c) Loans and Advances in the nature of loans to Firms/Companies in which directors

are interested

(d) Investment by the loanee in the shares of the company, when the Company has

made a loan or advance in the nature of loan

Disclosures pursuant to regulation 34(3) and 53(f) of schedule V of the Securities and Exchange Board of India (Listing obligations

and disclosure requirements) Regulations, 2015, as amended.

On divestment of shares of Gemini Edibles and Oil Pvt. Ltd. in financial year 2013-14, pursuant to the Share Purchase Agreement, the Company paid an

amount of = 2,836.52 Lakh to the said Company by way of deposit which is refundable on receipt of various incentives by the said Company from

Government authorities. Of the total amount paid, the Company has received refund of = 2,320.81 Lakh till March 31, 2021. The Company expects to

recover the balance amount of = 515.71 Lakh fully. Accordingly, no provision for impairment is considered necessary in this regards.

Ruchi J-Oil Private Limited (“Ruchi J-Oil”) is under liquidation, financial statements for the year ended March 31, 2021 are not available of “Ruchi J-Oil”

and management of the Company expects to recover the carrying amount of investment, therefore in view of the management no consolidated

financial statements are required to be prepared and presented.


Annexure - VI


Note - 37

Segment Reporting

A. General Information

(a) Factors used to identify the entity’s reportable segments, including the basis of organisation

Reportable segment

ExtractionsVanaspatiOilsFood ProductsWind Power Generation

By products related to each segment have been included under the respective segment.

B.1. Information about reportable segments- Financial Year 2020-21 � in Lakh

Particulars Seed Extractions Vanaspati Oils Food Products Wind Turbine

Power Generation

Others Unallocated Total

SEGMENT REVENUE

External Revenue 289,386.45 84,583.82 1,450,536.44 48,056.03 4,748.93 15,995.83 - 1,893,307.50

Less Intersegment Sales 188,757.57 - 71,476.57 - 1,210.06 - - 261,444.20

Total Segment Revenue 100,628.88 84,583.82 1,379,059.87 48,056.03 3,538.87 15,995.83 - 1,631,863.30

Segment Profit/ (Loss) before interest and taxes 12,441.31 1,810.44 64,805.28 4,363.98 1,062.14 505.71 - 84,988.86

Add: Unallocable Income net of Unallocable Expenses 3,689.95 3,689.95

Less: Finance cost 37,071.87 37,071.87

Less: Provision for Doubtful Debts/ Advances, Expected

credit loss, Write off (Net)

166.92 166.92

Profit before exceptional items and tax expenses 51,440.02

Exceptional Items (Net) [Refer Note 30] - -

Profit before tax 51,440.02

Tax Expenses - Deferred Tax (Credit) (16,637.16) (16,637.16)

Profit after tax 68,077.18

(b ) Following are reportable segments

Based on the criterion as mentioned in Ind-As-108-"Operating Segment", the Company has identified its reportable segments, as follows:

• Segment-1 Seed Extractions

• Segment-2, Vanaspati

• Segment-3, Oils

• Segment-4, Food Products

• Segment-5, Wind Power Generation

• Segment-6, Others

Unallocable - All the segments other than segments identified above are collectively included in this segment.

The Chief Operating Decision Maker (“CODM”) evaluates the Company’s performance and allocates resources based on an analysis of various performance indicators by operating segments. The CODM reviews revenue and gross profit as the performance

indicator for all of the operating segments.

Description

Extraction is considered as the primary product resulting from the solvent extraction process and crude oil as the secondary product. While computing segment results, all costs related to solvent extraction process are charged to the extraction segment

and recovery on account of crude oil is credited to the said segment. Credit for recovery of crude oil is taken on the basis of average monthly market price.

Electricity Generation from Wind Mills

(c ) Other Segment

Others

Various types of seed extractionsVanaspati, Bakery fats and Table spreadCrude oils, Refined oilsTextured Soya protein and Soya flour

The assets and liabilities that can not be allocated between segments are shown as unallocable assets and liabilities, respectively.

Seeds, Coffee, Soap, Fresh Fruit Bunch, Seedling, Toiletry preparations, Castor seed, Wheat Flour and Honey.


Annexure - VI


Other Information

SEGMENT ASSETS 76,286.56 15,142.03 260,622.59 15,684.57 34,402.85 55,913.85 442,829.53 900,881.98

SEGMENT LIABILITIES 6,316.06 14.87 45,396.50 202.33 - 9,316.71 433,394.23 494,640.70

CAPITAL EXPENDITURE 448.42 57.63 858.47 118.89 178.10 261.06 - 1,922.57

DEPRECIATION / AMORTISATION 3,436.03 1,558.17 5,013.68 486.06 1,868.34 601.18 361.63 13,325.09

NON CASH EXPENSES - - - - - - 166.92 166.92

B.2. Information about reportable segments-Financial Year 2019-2020 � in Lakh


Power Generation


SEGMENT REVENUE




Segment Profit / (Loss) before interest and taxes 6,741.65 597.32 20,070.13 1,961.72 3,785.17 (1,416.85) - 31,739.14


Less: Finance cost 11,231.48 11,231.48



2,183.31 2,183.31


Exceptional Items (Net) [Refer Note 30] 749,023.01 749,023.01


Tax Expenses - Income Tax for earlier years

written Back

(1,400.00) (1,400.00)


Other Information

SEGMENT ASSETS 75,105.77 13,517.07 194,050.54 11,853.29 36,249.43 20,024.90 435,960.13 786,761.13

SEGMENT LIABILITIES 3,119.42 37.45 10,235.53 123.96 53.53 5,905.20 430,195.89 449,670.98

CAPITAL EXPENDITURE 329.88 31.37 421.68 3.09 - 313.18 - 1,099.20

DEPRECIATION / AMORTISATION/ IMPAIRMENT 3,473.71 1,200.57 5,372.21 616.63 1,866.81 609.73 437.70 13,577.36

NON CASH EXPENSES - 2,183.31 2,183.31

B.3. Information about reportable segments-Financial Year 2018-2019 � in Lakh


Power Generation


SEGMENT REVENUE




Segment Profit / (Loss) before interest and taxes 635.28 228.31 9,933.35 1,710.83 2,726.75 (6,778.18) - 8,456.34


Less: Finance cost 699.07 699.07



1,340.25 1,340.25


Exceptional Items (Net) [Refer Note 30] (4,259.12) (4,259.12)




Annexure - VI


Other Information

SEGMENT ASSETS 64,195.43 18,376.35 190,146.51 12,368.80 37,801.52 26,204.18 440,334.41 789,427.20

SEGMENT LIABILITIES 7,388.88 13.24 262,195.85 261.49 138.53 48,896.21 922,612.15 1,241,506.35

CAPITAL EXPENDITURE 446.16 5.36 330.79 79.81 - 108.86 - 970.98

DEPRECIATION / AMORTISATION/ IMPAIRMENT 3,523.42 1,119.90 5,709.10 539.99 1,866.71 598.15 467.17 13,824.44

NON CASH EXPENSES - 1,340.25 1,340.25

Particulars For the year ended

March 31, 2021

For the year ended

March 31, 2020

For the year ended

March 31, 2019 I Revenue

Domestic 1,591,364.86 1,287,641.97 1,226,550.67

Foreign 40,498.44 24,136.84 46,372.64

Total Revenue 1,631,863.30 1,311,778.81 1,272,923.31


March 31, 2021

For the year ended

March 31, 2020

For the year ended

March 31, 2019

II Non-Current Assets*

Within India 502,840.86 514,348.32 529,788.37 Outside India - - -

*Non-current assets other than financial assets, deferred tax asset and income tax.


Annexure - VI


Note - 38

Deferred Tax

Tax expense/(credit) recognized in the Statement of Profit and Loss

� in Lakh

For the year ended

March 31, 2021

For the year ended

March 31, 2020

For the year ended

March 31, 2019

- - -

(16,637.16) - -

(16,637.16) - -

The income tax expenses for the year can be reconciled to the accounting profit as follows: � in Lakh


March 31, 2021

For the year ended

March 31, 2020

For the year ended

March 31, 2019

Profit before tax 51,440.02 770,061.39 3,412.89

Applicable Tax Rate 25.17% 25.17% 34.94%

Computed Tax Expense 12,946.42 193,809.05 1,192.60

Tax effect of :

Expenses disallowed 5,314.69 6,428.94 59,944.57

3,353.66 3,417.15 4,830.81

Provision for Doubtful Debts & advances 42.01 549.50 -

Interest payable to Banks - - 52,986.32

Others 1,919.02 2,462.29 2,127.44

Additional allowances 18,261.11 200,237.99 61,137.17

Depreciation as per Income Tax 1,884.62 1,993.67 3,160.75

Term loan principal & interest payable written back - 26,198.27 -

Unrecognised interest payable to Banks - - 54,796.71

Write off of Bad debts and advances - 144,305.74 -

Others 734.91 1,087.85 1,045.22

15,641.58 26,652.46 2,134.49

Current Tax (0.00) (0.00) (0.00)

Current Tax Provision (A) - - -

Deferred tax asset recognised (16,637.16) - -

Deferred tax (Credit) (B) (16,637.16) - -

Tax Expenses Charge/(Credit) in Statement of Profit and Loss (A+B) (16,637.16) - -

� in Lakh


March 31, 2021

For the year ended

March 31, 2020

For the year ended

March 31, 2019

Deferred Tax Liabilities (32,834.66) (35,112.59) (51,224.77)

Property, plant and equipment and intangible assets (32,531.01) (34,771.01) (51,224.77)

Other timing differences (303.65) (341.58) -

Deferred Tax Assets 49,471.82 61,062.39 318,936.86

Provision for doubtful debts & advances 34,639.17 34,597.17 246,305.22

Brought forward losses 7,333.44 18,675.33 58,249.03

Unabsorbed Depreciation 7,159.18 7,378.12 13,877.71

Other timing differences 340.03 411.77 504.90

Net Deferred tax Asset 16,637.16 25,949.80 267,712.09

Unused tax losses:

Assessment Year Business Loss Unabsorbed Depreciation Business Loss

Available for

utilization till2014-2015 - 1,222.02

2015-2016 - 13,079.01

2016-2017 - 13,670.61

2017-2018 8,217.40 473.90 A.Y. 2025-2026

2018-2019 20,920.56 - A.Y. 2026-2027

Total 29,137.96 28,445.55

Note:

During the year ended March 31, 2021, the Company has recognised deferred tax assets mainly on account of carried forward tax losses and unabsorbed depreciation.

Based on future business projections, the Company is reasonably certain it would be able to generate adequate taxable income to ensure utilization of carried forward

tax losses and unabsorbed depreciation.

Business losses setoff

Depreciation

Deferred tax assets arising on account of deductible temporary differences, unused tax losses:-

Tax expense / (credit) for the year

Particulars

The major components of income tax expenses Amounts recognised in statement

profit and loss for the year ended March 31, 2021 and March 31, 2020 are:

Current income tax

Deferred income tax charge / (credit)


Annexure - VI


Note - 39

Related party relationships, transactions and balances

As per Ind AS-24, the disclosure of transactions with related parties are given below :

(a)

(i) Enterprises exercising control #

Patanjali Ayurved Limited

Divya Yog Mandir Trust (Upto March 30, 2021)

Patanjali Parivahan Private Limited

Patanjali Gramudyog Nayas

Yogakshem Sansthan (with effect from March 31, 2021)

(ii) Subsidiaries including Stepdown subsidiaries # #

Ruchi Worldwide Ltd.

Mrig Trading Private Limited

RSIL Holdings Private Limited

Ruchi Industries Pte. Limited, Singapore

Ruchi Ethiopia Holdings Limited, Dubai

Ruchi Agri Plantation (Combodia) Pte. Limited

Ruchi Agri Trading Pte. Limited, Singapore

Ruchi Agri SARLU (Madagascar)

Ruchi Agri PLC (Ethiopia)

Palmolein Industries Pte. Ltd. Cambodia

Ruchi Middle East DMCC (Dubai)

(iii) Associates

GHI Energy Private Limited (Upto May 12, 2019)

Ruchi Hi-Rich Seeds Private Limited # #

(iv) Joint Venture

Ruchi J Oil Private Limited [under liquidation w.e.f. August 21, 2018]

(v) Key managerial persons

Shri Acharya Balkrishna #

Shri Ram Bharat #

Shri Rajat Sharma # (Upto July 2, 2020)

Ms. Bhavna Samir Shah # (Upto July 13, 2020)

Shri Girish Kumar Ahuja #

Dr. Tejendra Mohan Bhasin ####

Ms. Gyan Sudha Misra ####

Shri Sanjeev Kumar Asthana (with effect from August 19, 2020)

Shri Anil Singhal (Upto November 10, 2020)

Shri Ramji Lal Gupta

Shri Vijay Kumar Jain ###

Shri Dinesh Chandra Shahra # # # (Erstwhile promoter director)

Shri Sanjay Kumar (With effect from March 30, 2021)

Shri Navin Khandelwal (Upto October 22, 2018)

Ms. Meera Dinesh Rajda (Upto November 19, 2018)

Shri Kumar Rajesh

Shri Sanjeev Kumar Khanna

(vi) Relative of key managerial persons

Shri Kailashchandra Shahra # # #

Shri Sarvesh Shahra # # #

(vii) Relative of key managerial persons & a Director

Shri Ramdev #

(viii) Enterprises over which Key Managerial Personnel and their relatives are able to exercise significant influence

Patanjali Natural Biscuits Private Limited #

Patanjali Agro India Private Limited #

Parakram Security India Private Limited #

Atri Papers Private Limited #

Sanskar Info TV Private Limited #

Vedic Broadcasting Limited #

Patanjali Peya Private Limited

Swasth Aahar Private Limited

Mohan Fabtech Private Limited

List of related parties and relationship:


Annexure - VI


Bharuwa Solutions Private Limited

Shahra Brothers Private Limited # # #

Disha Foundation Trust # # #

Suresh Shahra HUF # # #

Santosh Shahra HUF # # #

High Tech Realties Private Limited # # #

Mahakosh Family Trust # # #

Mahadeo Shahra & Sons # # #

Mahakosh Holding Private Limited # # #

(ix) Other

Ruchi Soya Industries Limited Beneficiary Trust

Indian Oil Ruchi Biofuels LLP (upto January 25, 2019)

# With effect from December 18, 2019

# # Upto March 28, 2020

# # # Upto December 17, 2019

#### with effect from August 13, 2020

As per Ind AS-24, the disclosure of transactions and Balances with related parties are given below : � in Lakh

S.No Particulars2020-21 2019-20 2018-19

1 Revenue from Operations

(a) Sales of Product & Services

Patanjali Ayurved Limited 72,493.09 5,739.04 -

Patanjali Natural Biscuits Private Limited 2,648.02 74.05 -

Patanjali Agro India Private Limited 343.64 - -

(b) Other Operating Revenue/Other Income


2 Service Charges Received/Receivable

Ruchi J Oil Private Limited - 1.80 4.83

3 Payment to Key Managerial Personnel /Remuneration

Shri Anil Singhal 53.09 97.94 92.01

Shri Ramji Lal Gupta 70.72 59.54 70.18

Shri Vijay Kumar Jain - 32.04 58.04

130.78 - -

Shri Sanjay Kumar 0.14 - -

Shri Kumar Rajesh 52.18 - -

Shri Sanjeev Kumar Khanna 52.01 - -

- - -

4 Sitting Fees Expenses

Shri Rajat Sharma - 0.50 -

Ms. Bhavna Samir Shah 3.50 3.50 -

Shri Girish Kumar Ahuja 10.00 - -

Ms.Gyan Sudha Misra 7.00 - -

Dr.Tejendra Mohan Bhasin 13.00 - -

5 Purchase of Goods/Services

Patanjali Ayurved Limited 5,268.46 127.41 -

Patanjali Agro India Private Limited 67,177.39 288.77 -

Patanjali Parivahan Private Limited 7,523.22 296.35 -

Vedic Broadcasting Limited 240.99 40.09 -

Sanskar Info TV Private Limited 179.95 30.00 -

Parakram Security India Private Limited 3,640.59 869.67 -

Atri Papers Private Limited 926.32 - -

Swasth Aahar Private Limited 142.60 - -

Patanjali Peya Private Limited 1.98 - -

Bharuwa Solutions Private Limited 47.20 - -

Mohan Fabtech Private Limited 39.86 - -

Shri Sanjeev Kumar Asthana

Shri Ram Bharat [Current Year = 1.00 (Previous year March 2020,= 0.00 and March

2019, = 0.00 )]


Annexure - VI


6 Interest Expenses

Patanjali Ayurved Limited (Debenture ) 4,030.63 1,173.34 -

7 Rent Paid/ Storage Charges Expenses

Shri Dinesh Chandra Shahra - - 0.08

Shahra Brothers Private Limited - 2.77 3.16

Disha Foundation Trust - - 20.78

Suresh Shahra HUF - 5.40 9.64

Santosh Shahra HUF - 2.43 4.12

Mahakosh Family Trust - 7.97 -

Vedic Broadcasting Limited 32.89 - -

8 Reimbursement of Expenses

Shri Anil Singhal 3.00 15.34 -

Shri Ramji Lal Gupta 0.51 4.12 -

Shri Vijay Kumar Jain - 21.16 -

Shri Sanjeev Kumar Asthana 0.15 - -

Shahra Brothers Private Limited - - 1.59

9 Purchase of Fixed Assets

Patanjali Ayurved Limited 94.51 317.70 -

10 Impairment in Value of Investment

Indian Oil Ruchi Biofuels LLP - - 1.53

11 Provision for Doubtful Debts & Advances

High Tech Realties Private Limited - - 750.00

12 Royalty Paid

Patanjali Ayurved Limited 1,149.27 - -

13 Director Remuneration Payable:

- - -

14 Trade Receivables


Patanjali Natural Biscuits Private Limited 1.46 - -

Mahakosh Family Trust - - 38.60

15 Loans and Advances Receivable

Shri Ramji Lal Gupta - 5.00 2.47

Shri Anil Singhal - - 2.90

Ruchi Soya Industries Limited Beneficiary Trust - - 0.85

Mrig Trading Private Limited - - 0.23


Patanjali Agro India Private Limited 1,981.36 2,806.32 -

Parakram Security India Private Limited - 65.77 -

Patanjali Peya Private Limited 0.97 - -

Mohan Fabtech Private Limited 72.63 - -

Shri Sanjeev Kumar Asthana 0.15 - -

Shri Kumar Rajesh 0.03 - -

16 Security Deposit Receivable

Disha Foundation Trust - - 1,350.00


17 Investment in Subsidiary, Associate and Joint Venture

Ruchi J Oil Private Limited 154.26 154.26 154.26

RSIL Holdings Private Limited - - 348.10

Mrig Trading Private Limited - - 1.00

GHI Energy Private Limited - - 819.24

18 Money Received on Capital Reduction

Ruchi J Oil Private Limited - - 1,632.00

19 Loans from Related Party

Patanjali Ayurved Limited (Preference Share ) 16,213.52 14,740.53 -

Patanjali Ayurved Limited (Debenture ) 45,000.00 45,000.00 -

Shri Ram Bharat [Current Year = 1.00 (Previous year March 2020,= 0.00 and March

2019, = 0.00 )]


Annexure - VI


20 Security Deposit Received

Patanjali Parivahan Private Limited 5.00 - -

21 Trade Payables & Services

Patanjali Parivahan Private Limited 349.93 362.29 -

Vedic Broadcasting Limited 26.21 23.19 -

Atri Papers Private Limited 129.69 19.18 -

Patanjali Ayurved Limited 63.31 - -

Parakram Security India Private Limited 50.42 - -

Sanskar Info TV Private Limited 17.47 - -

Bharuwa Solutions Private Limited 10.94 - -

Disha Foundation Trust - - 95.08

Suresh Shahra HUF - - 4.33

Ruchi Worldwide Ltd. - - 37,010.36

Ruchi Agritrading Pte. Limited - - 18,959.98

Ruchi J Oil Private Limited - - 26.30

Shahra Brothers Private Limited - - 2.31

Mahadeo Shahra & Sons - - 0.15

Mahakosh Holding Private Limited - - 1.61

Santosh Shahra HUF - - 1.15

22 Other Financial Liabilities

Shri Anil Singhal - 11.34 -

Patanjali Ayurved Limited (Preference Share ) 27,372.51 29,926.43 -

Patanjali Ayurved Limited (Interest on Debenture ) 4,784.62 1,173.34 -

Shri Dinesh Chandra Shahra - - 13.34

Shri Vijay Kumar Jain - - 10.55

Shri Kailashchandra Shahra - - 3.50

Shri Sarvesh Shahra - - 5.08

23 Customer Advance

Patanjali Natural Biscuits Private Limited - 45.29 -

24 Sitting Fees Payable

Shri Kailashchandra Shahra - - 0.15

25 Guarantees Given

Ruchi Worldwide Ltd. - - 61,065.73

GHI Energy Private Limited - - 9,600.00

Note: Since Resolution Professional was appointed pursuant to NCLT order dated December 15, 2017 under IBC, he is not consider as related party.


Annexure - VI


Note - 40Earnings per share (EPS)

Particulars March 31, 2021 March 31, 2020 March 31, 2019

Net Profit after tax (= in Lakh) 68,077.18 771,461.39 3,412.89 Profit attributable to equity holders for basic earnings (� in Lakh) 68,077.18 771,461.39 3,412.89

Profit/(Loss) attributable to equity holders After Exceptional Items

(� in Lakh)

68,077.18 771,461.39 3,412.89

Weighted average number of shares for Basic EPS and Diluted EPS

(Nos) [Net of treasury shares]

295,764,706 87,977,821 3,264,706

Basic earnings per share ( in �) 23.02 876.88 104.54

Diluted earnings per share ( in �) 23.02 876.88 104.54

Note: The number of equity shares outstanding decreased as a result of capital reduction in accordance with approved resolution plan, therefore the

calculation of basic and diluted earnings per share for March 31, 2019 presented above is adjusted retrospectively in accordance with Ind AS 33 on "

Earning Per Share".


Annexure - VI


Note - 41Financial instruments – Fair values

A. Accounting classification and fair values

� in Lakh

(i) March 31, 2021 Notes FVTPL FVTOCI Total Fair Value Amortised Cost Total Level 1 Level 2 Level 3 Total

Non Current assets

Financial assets

(i) Investments 5(a) - 1,708.77 1,708.77 154.29 1,863.06 1,708.77 - - 1,708.77

(ii) Loans 5(b) - - - 3,447.06 3,447.06 - - - -

(iii) Others 5(c) - - - 1,088.68 1,088.68 - - - -

Current assets

Financial assets

(i) Investments 8(a) 225.79 - 225.79 950.32 1,176.11 225.79 - - 225.79

(ii) Trade receivables 8(b) - - - 43,842.23 43,842.23 - - - -

(iii) Cash and cash equivalents 8(c) - - - 4,627.05 4,627.05 - - - -

(iv) Bank Balance other than above 8(d) - - - 34,042.15 34,042.15 - - - -

(v) Loans 8(e) - - - 112.34 112.34 - - - -

(vi) Others 8(f) - - - 924.92 924.92 - - - -

Total 225.79 1,708.77 1,934.56 89,189.04 91,123.60 1,934.56 - - 1,934.56

Non Current liabilities

Financial liabilities

(i) Borrowings 13(a) - - - 287,984.80 287,984.80 - - - -

(ii) Other financial liabilities 13(b) - - - 32,158.68 32,158.68 - - - -

Current liabilities


(i) Borrowings 16(a) - - - 61,025.20 61,025.20 - - - -

(ii) Trade payables 16(b) - - - 66,057.32 66,057.32 - - - -

(iii) Other financial liabilities 16(c) - - - 39,709.91 39,709.91 - - - -

Total - - - 486,935.91 486,935.91 - - - -

Carrying amount Fair value

The following table shows the carrying amounts and fair values of financial assets and financial liabilities, including their levels in the fair value hierarchy.


Annexure - VI


� in Lakh

(ii) March 31, 2020 Notes FVTPL FVTOCI Total Fair Value Amortised Cost Total Level 1 Level 2 Level 3 Total

Non Current assets

Financial assets

(i) Investments 5(a) - 583.33 583.33 154.30 737.63 583.33 - - 583.33

(ii) Loans 5(b) - - - 3,554.68 3,554.68 - - - -

(iii) Others 5(c) - - - 1,565.87 1,565.87 - - - -

Current assets

Financial assets

(i) Investments 8(a) 447.11 - 447.11 833.92 1,281.03 447.11 - - 447.11




(v) Loans 8(e) - - - 120.15 120.15 - - - -

(vi) Other 8(f) - - - 345.83 345.83 - - - -

Total 447.11 583.33 1,030.44 79,500.23 80,530.67 1,030.44 - - 1,030.44



(i) Borrowings 13(a) - - - 295,383.32 295,383.32 - - - -

(ii) Other financial liabilities 13(b) - - - 31,101.84 31,101.84 - - - -

Current liabilities


(i) Borrowings 16(a) - - - 63,029.93 63,029.93 - - - -



Total - - - 437,130.91 437,130.91 - - - -



Annexure - VI


� in Lakh

(iii) March 31, 2019 Notes FVTPL FVTOCI Total Fair Value Amortised Cost Total Level 1 Level 2 Level 3 Total

Non Current assets

Financial assets

(i) Investments 5(a) - 946.10 946.10 504.45 1,450.55 946.10 - - 946.10

(ii) Loans 5(b) - - - 3,529.61 3,529.61 - - - -

(iii) Others 5(c) - - - 1,413.93 1,413.93 - - - -

Current assets

Financial assets

(i) Investments 8(a) 939.74 - 939.74 739.61 1,679.35 120.50 - - 120.50




(v) Loans 8(e) - - - 113.13 113.13 - - - -

(vi) Other 8(f) 124.03 - 124.03 239.54 363.57 - 124.03 - 124.03

Total 1,063.77 946.10 2,009.87 75,767.45 77,777.32 1,066.60 124.03 - 1,190.63



(i) Borrowings 13(a) - - - 1,607.27 1,607.27 - - - -

(ii) Other financial liabilities 13(b) - - - - - - - - -

Current liabilities


(i) Borrowings 16(a) - - - 727,980.20 727,980.20 - - - -



Total - - - 1,229,483.88 1,229,483.88 - - - -



Annexure - VI


B. Fair Valuation Techniques used to determine Fair Value

Fair values are categorised into different levels in a fair value hierarchy based on the inputs used in the valuation techniques as follows :

Level 1 : Quoted prices / published NAV (unadjusted) in active markets for identical assets or liabilities. It includes fair value of financial instruments traded in active markets and are

based on quoted market prices at the balance sheet date and financial instruments like mutual funds for which net assets value (NAV) is published by mutual fund operators at the

balance sheet date.

Level 2 : Inputs, other than quoted prices included within level 1, that are observable for the asset or liability, either directly (that is, as prices) or indirectly (that is, derived from prices).

It includes fair value of the financial instruments that are not traded in an active market is determined by using valuation techniques. These valuation techniques maximise the use of

observable market data where it is available and rely as little as possible on the Company specific estimates. If all significant inputs required to fair value an instrument are observable

then instrument is included in level 2.

Level 3 : Inputs for the asset or liability that are not based on observable market data (that is, unobservable inputs). If one or more of the significant inputs is not based on observable

market data, the instrument is included in level 3.

The Company maintains procedures to value financial assets or financial liabilities using the best and most relevant data available. The fair values of the financial assets and liabilities are

included at the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date.

The following methods and assumptions were used to estimate the fair values:

(i) Fair value of trade receivable, cash and cash equivalents, other bank balances, current borrowings, trade payables, other current financial assets and other current financial liabilities

are approximate at their carrying amounts largely due to the short-term maturities of these instruments.

(ii) The fair values of non-current borrowings are approximate at their carrying amount due to interest bearing features of these instruments.

(iii) The Company uses valuation techniques that are appropriate in the circumstances and for which sufficient data are available to measure fair value, maximising the use of relevant

observable inputs and minimising the use of unobservable inputs.

(iv) Fair values of quoted financial instruments are derived from quoted market prices in active markets.

(v) Fair value of forward contract are derived on the basis of mark-to-market as provided by the respective bank.

(vi) Fair value of open purchase and sale contracts is based on commodity prices listed on NCDEX stock exchange and prices available on Solvent Extractor's association (SEA) along with

quotations from brokers and adjustments made for grade and location of commodity and in case of Commodity futures it is based on commodity prices listed on MCX/ NCDX/ACE stock

exchange.


Annexure - VI


Note - 42Financial risk management

(i) Market risk

(a) Currency risk;

(b) Interest rate risk;

(c) Commodity Risk;

(d) Equity Risk;

(ii) Credit risk ; and

(iii) Liquidity risk ;

Risk management framework

(i) Market risk

(a) Currency risk

Exposure to currency risk

The summary quantitative data about the Company's exposure to currency risk as reported by the management of the Company is as follows: � in Lakh

Particulars EUR Exposure in

�

USD Exposure in

�

AUD Exposure in � EUR Exposure in

�

USD Exposure in

�

AUD Exposure in �

Receivable net exposure

Trade receivables* 462.50 5,212.07 10.07 591.82 2,483.31 4.44

Net statement of financial position exposure 462.50 5,212.07 10.07 591.82 2,483.31 4.44

Forward exchange contracts against exports - 4,657.14 - - - -

Receivable net exposure 462.50 554.93 10.07 591.82 2,483.31 4.44

Payable net exposure

Trade payables and other financial liabilities - 40,121.36 - - 3,028.90 -

Advance from Customers - 164.86 - - - -

Statement of financial position exposure - 40,286.22 - - 3,028.90 -

Forward exchange contracts against imports and foreign

currency payables

- 40,121.36 - - - -

Payable net exposure - 164.86 - - 3,028.90 -

Total net exposure on Receivables /(Payables) 462.50 390.07 10.07 591.82 (545.59) 4.44

� in Lakh

Particulars EUR Exposure in

�

USD Exposure in

�

AUD Exposure in �

Receivable net exposure

Trade receivables* 3,770.12 129,287.50 7.66

Net statement of financial position exposure 3,770.12 129,287.50 7.66

Forward exchange contracts against exports - - -

Receivable net exposure 3,770.12 129,287.50 7.66

Payable net exposure

Borrowings - 27,731.67 -

Trade payables and other financial liabilities - 250,929.95 -

Statement of financial position exposure - 278,661.62 -

Forward exchange contracts against imports and foreign

currency payables

- - -

Payable net exposure - 278,661.62 -

Total net exposure on Receivables /(Payables) 3,770.12 (149,374.12) 7.66

*Excluding provision for doubtful debts = 1,30,111.70

Lakh.

The Company’s activities expose it to a variety of financial risks, including market risk, credit risk and liquidity risk. The Company’s primary risk management focus is to minimize potential

adverse effects of risks on its financial performance. The Company’s risk management assessment policies and processes are established to identify and analyse the risks faced by the

Company, to set appropriate risk limits and controls, and to monitor such risks and compliance with the same. Risk assessment and management of these policies and processes are

reviewed regularly to reflect changes in market conditions and the Company’s activities. The Board of Directors and the Audit Committee are responsible for overseeing these policies and

processes.

Market risk is the risk of changes in the market prices on account of foreign exchange rates, interest rates and Commodity prices, which shall affect the Company's income or the value of its

holdings of its financial instruments . The objective of market risk management is to manage and control market risk exposure within acceptable parameters, while optimising the returns.

Considering the countries and economic environment in which the Company operates, its operations are subject to risks arising from fluctuations in exchange rates in those countries. The

risks primarily relate to fluctuations in U.S. dollar and Euro, against the respective functional currencies ( INR) of Ruchi Soya Industries Limited.

The Company, as per its risk management policy, uses foreign exchange and other derivative instruments primarily to hedge foreign exchange and interest rate exposure. The Company

does not use derivative financial instruments for trading or speculative purposes.

The fluctuation in foreign currency exchange rates may have potential impact on the profit and loss account, where any transaction has more than one currency or where assets/liabilities

are denominated in a currency other than the functional currency of the entity.

March 31, 2019

March 31, 2021 March 31, 2020

The Company has exposure to the following risks arising from financial instruments:


Annexure - VI


Sensitivity analysis

� in Lakh

Strengthening Weakening Strengthening Weakening

EUR 4.63 (4.63) 5.92 (5.92)USD 3.90 (3.90) (5.46) 5.46 AUD 0.10 (0.10) 0.04 (0.04)

� in Lakh

Strengthening Weakening

EUR 37.70 (37.70)USD (1,493.74) 1,493.74 AUD 0.08 (0.08)

Profit/(Loss) March 31, 2021

A 1% strengthening / weakening of the respective foreign currencies with respect to functional currency of Company would result in increase or decrease in profit or loss as shown in table

below. The following analysis has been worked out based on the exposures as of the date of statements of financial position.

Profit/(Loss) March 31, 2020Effect in Indian Rupees

Effect in Indian Rupees Profit/(Loss) March 31, 2019


Annexure - VI


(b) Interest rate risk

Interest rate sensitivity - fixed rate instruments

Interest rate sensitivity - variable rate instruments

A. March 31, 2021 � in Lakh

100 bp increase 100 bp decrease

Sensitivity (3,043.81) 3,043.81

B. March 31, 2020 � in Lakh


Sensitivity (3,016.73) 3,016.73

C. March 31, 2019 � in Lakh


Sensitivity (7,897.94) 7,897.94

Interest rate risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of changes

in market interest rates. The Company’s exposure to market risk for changes in interest rates relates to borrowings from

banks and others.

For details of the Company’s short-term and long term loans and borrowings, Refer Note 13(a), 13(b), 16(a) and 16(c) of

these financial statements.

The Company's fixed rate borrowings Preference Shares issued to Patanjali Ayurved Limited @ 0.0001% and Debentures

issued to Patanjali Ayurved Limited @ 9% in the year 2019-2020 and Invetsments into Preference Shares of GHI Energy

Private Limited @ 6% in the year 2011-2012 are carried at fair value. They are therefore not subject to interest rate risk as

defined in Ind AS 107, since neither the carrying amount nor the future cash flow will fluctuate because of a change in

market interest rates.

A reasonably possible change of 100 basis points in interest rates at the reporting date would have increased /(decreased)

equity and profit or loss by amounts shown below. This analysis assumes that all other variables, in particular, foreign

currency exchange rates, remain constant. This calculation also assumes that the change occurs at the balance sheet date

and has been calculated based on risk exposures outstanding as at that date.

Particulars

(3,016.73)On account of Variable Rate Borrowings from Banks 3,016.73

Impact on Profit/(loss) before tax

Impact on Profit/(loss) before tax

Particulars

On account of Variable Rate Borrowings from Banks (3,043.81) 3,043.81

ParticularsImpact on Profit/(loss) before tax

On account of Variable Rate Borrowings from Banks (7,897.94) 7,897.94


Annexure - VI


(c) Commodity risk

� in Lakh

Increase Decrease Increase Decrease Increase Decrease

Effect of (increase) / decrease in prices (127.53) 127.53 (2.80) 2.80 5.22 (5.22)

Assumptions used for calculation

Inventory Commodity value * 1%

Derivative contract

(d) Equity risk

To hedge commodity related risk, the open outstanding position of forward/future as on March 31, 2021 is Crude palm oil 18,220 MT

(Sale), Soya Refind Oil 1,455 MT (Sale), Soyabean seed 16,005 MT (Buy), Mustard seed 1,900 MT (Sale).

Equity Price Risk is related to the change in market reference price of the investments in equity securities. The fair value of some of the

Company’s investments in Fair value through Other Comprehensive Income securities exposes the Company to equity price risks. In

general, these securities are not held for trading purposes. These investments are subject to changes in the market price of securities. The

fair value of equity securities as of March 31, 2021, was = 1,708.77 Lakh [Previous Year March 2020, = 583.33 Lakh and March 2019, =

946.10 Lakh] . A Sensex standard deviation of 16% [Previous Year March 2020 and 7%, March 2019, 4%] would result in change in equity

prices of securities held as of March 31, 2021 by = 273.40 Lakh.[Previous Year March 2020, = 40.83 Lakh and March 2019, = 37.60 Lakh]

March 31, 2019

The prices of agricultural commodities are subject to wide fluctuations due to unpredictable factors such as weather, government policies,

changes in global demand resulting from population growth and changes in standards of living and global production of similar and

competitive crops. During its ordinary course of business, the value of the Company’s open sales and purchases commitments and

inventory of raw material changes continuously in line with movements in the prices of the underlying commodities. To the extent that its

open sales and purchases commitments do not match at the end of each business day, the Company is subjected to price fluctuations in

the commodities market.

While the Company is exposed to fluctuations in agricultural commodities prices, its policy is to minimise its risks arising from such

fluctuations by hedging its sales either through direct purchases of a similar commodity or through futures contracts on the commodity

exchanges.

In the course of hedging its sales either through direct purchases or through futures, the Company may also be exposed to the inherent

basis risk associated with having positions in physical as well as in futures market. The Company has in place a risk management policy to

minimize such risk exposure.

At the balance sheet date, a 1% increase/decrease of the commodities price indices, with all other variables remaining constant, would

result in (decrease)/increase in profit before tax and equity by the amounts as shown below:

March 31, 2021 March 31, 2020

Particulars

Value * 1%

Profit/(loss)


Annexure - VI


(ii)Credit Risk

A. Trade receivables

Summary of the Company's exposure to credit risk by age of the outstanding from various customers is as follows:� in Lakh

Particulars As at

March 31, 2021

As at

March 31, 2020 Agewise trade receivables which are not impaired

0–90 days 43,279.85 26,951.79 91–180 days 716.66 268.55 > 180 days 2,903.14 3,069.45

46,899.65 30,289.79

� in Lakh

Particulars As at

March 31, 2019 Agewise trade receivables which are not impaired

0–90 days 24,675.60 91–180 days 298.50 > 180 days 2,541.95

27,516.05

March 31st, 2021

Balance as at April 1, 2020 133,002.21 Impairment loss recognised as per ECL 166.92 Balance as at March 31, 2021 133,169.13

� in LakhMarch 31st, 2020

Balance as at April 1, 2019 651,627.56 Impairment loss recognised as per ECL 1,598.07

Provision for Trade Receivables Written back/Reversal (520,223.42)

Balance as at March 31, 2020 133,002.21

Credit risk is the risk of financial loss to the Company if a customer or counterparty to a financial instrument fails to meet its contractual

obligations and arises principally from the Company’s receivables from customer. The Company establishes an allowance for doubtful

debts, impairment and expected credit loss that represents its estimate on expected credit loss model.

Exposures to customers outstanding at the end of each reporting year are reviewed by the Company to determine expected credit losses.

Impaired amounts are based on lifetime expected losses based on the best estimate of the management. The impairment loss related to

several customers that have defaulted on their payments to the Company and are not expected to be able to pay their outstanding

balances.

The Company’s exposure to credit risk is influenced mainly by the individual characteristics of each customer. The demographics of the

customer, including the default risk of the industry has an influence on credit risk assessment. Credit risk is managed through credit

approvals, establishing credit limits and continuously monitoring the creditworthiness of customers to which the Company grants credit

terms in the normal course of business.

The movement in the allowance for trade receivables having significant increase in credit risk during the year was as

follows.

Expected credit loss assessment for customers as at March 31, 2021, March 31, 2020 and March 31,2019

� in Lakh


follows.


Annexure - VI


March 31st, 2019

Balance as at April 1, 2018 656,560.79

Reversal of Expected Credit Losses (674.11)

Provision for Trade Receivables Written back/Reversal (4,259.12) Balance as at March 31, 2019 651,627.56

B.

C.

D.

The Company limits its exposure to credit risk by generally investing in liquid securities and only with counter-parties that have a good

credit rating. The Company does not expect any losses from non-performance by these counter-parties apart from those already given in

financials, and does not have any significant concentration of exposures to specific industry sectors or specific country risks.

Derivatives

Investments

Cash and cash equivalents


follows.� in Lakh

The Company holds cash and cash equivalents with credit worthy banks of = 4,627.05 Lakh as at March 31, 2021 [Previous Year March

2020 = 15,379.99 Lakh and March 2019 = 15,802.32 Lakh].The credit worthiness of such banks is evaluated by the management on an

on-going basis and is considered to be good.

The derivatives are entered into with credit worthy on counterparties. The credit worthiness of such counterparties is evaluated by the

management on an on-going basis and is considered to be good.


Annexure - VI


(iii) Liquidity risk

The below table summaries the maturity profile of the Company’s financial liability

Carrying amount

A As at March 31, 2021 Total 1 year or less 1-2 years 2-5 years > 5 years

Secured term loans and borrowings 304,381.31 305,587.81 77,610.03 19,201.78 87,024.00 121,752.00

Redeemable preference shares 43,586.02 45,000.00 - - - 45,000.00

Non convertible debenture 49,784.62 49,784.62 - - - 49,784.62

Trade payables 66,057.32 66,057.32 66,057.32 - - -

Other financial liabilities - current and non current 23,126.64 23,126.64 23,125.08 - 1.56 -

� in Lakh

Carrying amount

B As at March 31, 2020 Total 1 year or less 1-2 years 2-5 years > 5 years

Secured term loans and borrowings 301,672.72 303,029.93 66,029.93 10,800.00 70,848.00 155,352.00

Redeemable preference shares 44,666.96 45,000.00 - - - 45,000.00

Non convertible debenture 46,173.34 46,173.34 - - - 46,173.34

Trade payables 16,489.49 16,489.49 16,489.49 - - -

Other financial liabilities - current and non current 28,128.40 28,128.40 28,126.33 - 2.07 -

� in Lakh

Carrying amount

C As at March 31, 2019 Total 1 year or less 1-2 years 2-5 years > 5 years

Secured term loans and borrowings 785,469.40 785,469.40 785,469.40 - - -

Unsecured term loans and borrowings 5,918.61 5,918.61 4,474.54 236.95 650.80 556.32

Redeemable preference shares 163.20 200.00 - - 200.00 -

Trade payables 222,860.15 222,860.15 222,860.15 - - -

Other financial liabilities - current and non current 215,072.52 215,072.52 215,072.52 - - -

Note :

The inflows/(outflows) disclosed in the above table represent the contractual undiscounted cash flows relating to derivative financial liabilities held for risk management purposes and which are not

usually closed out before contractual maturity. The disclosure shows net cash flow amounts for derivatives that are net cash-settled and gross cash inflow and outflow amounts for derivatives that have

simultaneous gross cash settlement.

� in Lakh

Contractual cash flows

Liquidity risk is the risk that the Company will not be able to meet its financial obligations as they become due. The Company has been taking measures to ensure that the Company’s cash flow from

business borrowing is sufficient to meet the cash requirements for the Company’s operations. The Company managing its liquidity needs by monitoring forecasted cash inflows and outflows in day to day

business. Liquidity needs are monitored on various time bands, on a day to day and week to week basis, as well as on the basis of a rolling 30 day projections. Net cash requirements are compared to

available working capital facilities in order to determine headroom or any short falls. Presently company’s objective is to maintain sufficient cash to meet its operational liquidity requirements.

Contractual cash flows

Particulars

Particulars

Particulars Contractual cash flows


Annexure - VI


Note - 43

Capital Management

� in Lakh

A. Particulars As at March 31,

2021

As at March

31, 2020

As at March

31, 2019

Total Debts 392,967.33 391,339.68 791,551.21

Less : Cash and cash equivalent 4,627.05 15,379.99 15,802.32

Net Debts 388,340.28 375,959.69 775,748.89

Total equity (Share Capital Plus Other Equity) 406,241.28 337,090.15 (452,079.15)

Net debt to equity ratio 0.96 1.12 (1.72)

B. Dividends

No dividend is paid by the Company in last three financial years.

For the purpose of Company’s capital management, capital includes issued capital and all other equity reserves. The primary

objective of the Company’s capital management is to maximise shareholders value. The Company manages its capital structure

and makes adjustments in the light of changes in economic environment and the requirements of the financial covenants.

The Company monitors capital using gearing ratio, which is net debt divided by total equity. Net debt are non-current and current

debts (including preference shares liabilities) as reduced by cash and cash equivalents. Equity comprises all components including

other comprehensive income.


Annexure - VI


Note - 44

(iv) Reconciliation of Revenue from Operation (Sale of Products) with contract price: � in Lakh

For the Year Ended

31st March, 2021

For the Year Ended 31st

March, 2020

For the Year Ended

31st March, 2019

1,615,511.40 1,305,541.12 1,266,224.50

2,860.09 2,957.66 197.00

1,612,651.31 1,302,583.46 1,266,027.50

Note - 45

� in Lakh

For the Year Ended

31st March, 2021

For the Year Ended 31st

March, 2020

For the Year Ended

31st March, 2019

68,077.18 767,202.27 7,672.01

- 4,259.12 (4,259.12)

68,077.18 771,461.39 3,412.89

(ii) The Company disaggregates revenue from contracts with customers by type of Business and geography .

(iii) Revenue disaggregation based on Geography and Revenue by business segments have been in Note no. 37 (Segment Reporting)

* The reduction towards variable consideration comprises of volume discounts, schemes rate difference and quality claim etc.

Particulars

Net Profit after tax as per audited financial statements

Restatement adustments:

On account of impairment for VAT Refundable [Refer note (B) (i) below]

Restated Profit after tax

Particulars

Revenue from Operations

Contract Price

Less : Reduction towards variables considerations components *

(i) The ministry of corporate affairs (MCA) on March 28, 2018, notified Ind AS 115 “ Revenue from contracts with customers” as part of the Companies (Indian Accounting

Standards) Amendment Rules, 2018 and the same is effective for accounting year beginning on or after April 01, 2018. The Company has applied modified retrospective

approach in adopting the new standard.

Summarized below are the adjustments made to the audited standalone financial statements for the year ended March 31 2021, March 31 2020 and March 31 2019 and their

impact on the profit of the Company:

(A) Statement of restatement adjustments


Annexure - VI


� in Lakh

Particulars As at March 31, 2021 As at March 31, 2020 As at March 31, 2019

Total Equity as per audited standalone financial statements 406,241.28 337,090.15 (447,820.03)

Restatement adustments:

On account of impairment for VAT Refundable [Refer note

(B) (i) below]

- - (4,259.12)

Total Equity as per Restated Standalone Financial

Information

406,241.28 337,090.15 (452,079.15)

During the year ended March 31, 2019 the auditor report was modified in respect of non-provision for impairment against the refund receivable. The Company was having

refund receivable, as on March 31 2019, amounting to = 4,259.12 Lakh in respect of financial year 2009-2010 to 2013-14 for Daloda and Gadarwara unit towards investment

promotional assistance equivalent to 75% of taxes (Commercial Tax / VAT and Central Sales Tax) paid by the Company as per exemption granted in the industrial promotion

policy of Madhya Pradesh. However, Madhya Pradesh Trade and Investment Facilitation Corporation, Bhopal rejected the claim and accordingly, appeal was made to the

Hon’ble High Court of Madhya Pradesh. During the year ended March 31 2019, Hon’ble High Court of Madhya Pradesh, Indore bench, rejected the Company’s claim vide order

dated May 16, 2018. Subsequently, the Company has filed special leave petition before Hon’ble Supreme Court of India for refund of the amount, which has been admitted on

August 29, 2018. The said provision for impairment was made during the year ended March 31, 2020, therefore, as required, this provision for impairment is considered

during the year ended March 31, 2019 as exceptional item and it is reversed during the year ended March 31, 2020 in the Restated Standalone Financial Information.

However, the said qualification does not have any impact on total equity on March 31, 2020 and March 31, 2021.

Reconciliation of audited total equity and restated total equity.

(B) Explanations to restatement adjustments


Annexure - VI


Note - 46

� in Lakh

Particulars Leasehold Land Freehold Land Total

No. of cases 1 3 4

Gross Carrying Amount as on March 31, 2019 71.55 110.05 181.60

Net Carrying Amount as on March 31, 2019 - 110.05 110.05

Non adjusting items

(ii) Attention is drawn to the Note no. 47 (iii) to the Restated Standalone Financial Information, regarding non-availability of Demat Statement in respect of investments amounting to = 946.10

Lakh as at March 31, 2019. Accordingly, we are unable to comment on the possible financial impact, presentation and disclosures, related to those investments.

(iii) As mentioned in Note no. 47 (iv) to the Restated Standalone Financial Information:-

(iv) Attention is drawn to the Note no. 47 (v) to the Restated Standalone Financial Information:-

(v) We have been informed by Resolution Professional that certain information including the minutes of meetings of the Committee of Creditors and the outcome of certain procedures carried out

as a part of the CIRP are confidential in nature and could not be shared with anyone other than the Committee of Creditors and NCLT. Further, we were informed that the Committee of Creditors

has approved the resolution plan and is filed with Hon’ble NCLT. However, the detailed resolution plan (including the salient features, consideration agreed, terms and conditions etc.) has not

been made available for our review. In the opinion of the RP, the matter is highly sensitive and confidential. Accordingly, we are unable to comment on the possible adjustments required in the

carrying amount of assets and liabilities, possible presentation and disclosure impacts, if any, that may arise if we have been provided access to review of that information.

2) Emphasis of Matters paragraph in Auditor’s report, which does not require any corrective adjustment in the Restated Standalone Financial Information:

Various audit qualifications included in main Auditor's report, emphasis of matters paragraphs the Auditor’s report, remark included in the Annexure to Auditor’s report issued under the

Companies (Auditor’s Report) Order, 2016 on the standalone financial statements for the year ended March 31, 2019, 2020 and 2021. Pursuant to the approval of the Resolution Plan for the

corporate insolvency of the Company, which is implemented from December 18, 2019, new management has taken control of the Company. Impairment testing of tangible and intangible assets

has been carried out and there is no need to provide for impairment on such assets, no liability in respect of interest and foreign exchange differences arises to the Company, all the financial and

operational creditors has been settled as per approved resolution plan and matter of going concern is also resolved. Therefore these does not require any corrective adjustment in the Restated

Standalone Financial Information these are as follows:-

1) Audit qualifications included in main audit report, which does not require any corrective adjustment in the Restated Standalone Financial Information:-


(i) For the reasons mentioned in Note no. 47 (ii) to the Restated Standalone Financial Information, the Company continues not to assess impairment of carrying value of tangible assets, capital

work in progress and intangible assets in accordance with requirements of Indian Accounting Standard 36 on “Impairment of Assets”. We are unable to obtain sufficient appropriate audit

evidence about the recoverable amount of the Company’s tangible assets, capital work in progress and intangible assets. Consequently, we are unable to determine whether any adjustments to

carrying value are necessary and consequential impacts on the standalone financial statements.

In respect of Company’s borrowings from banks and financial institutions aggregating = 2,74,114.55 Lakh and bank (current account and term deposits) balances aggregating = 1,908.44 Lakh,

balance confirmations as at March 31, 2019 are not received. In cases, where the confirmations are received in respect of borrowings, there are differences between books of accounts and

confirmations received mainly due to charging of interest by bank and financial institutions in their confirmations/statement and non-recognition of the same by the Company in its books of

accounts subsequent to insolvency commencement date i.e. December 15, 2017.

In accordance with the Insolvency and Bankruptcy Code (“Code”), the Resolution Professional (“RP”) has to receive, collate and admit the claims submitted by the creditors as a part of Corporate

Insolvency Process (“CIRP”). Such claims can be submitted to the RP till the approval of the resolution plan by the CoC. As mentioned in Note no. 47 (i) of the standalone financial statements,

the RP has filed an application before the Hon’ble NCLT for the Resolution Plan approval. Pending final outcome of the CIRP, no accounting impact in the books of accounts has been made in

respect of excess, short, or non-receipts of claims for operational and financial creditors. Hence, consequential impact, if any, is currently not ascertainable and we are unable to comment on

possible financial impacts of the same.

a) Regarding non-recognition of interest on borrowing from banks and financial institutions, customer advance, inter corporate deposits and security deposits received and bank charges on

borrowing from banks and financial institutions subsequent to insolvency commencement date i.e. December 15, 2017, amounting to = 34,561.14 Lakh for the year ended March 31, 2018 and

= 1,56,848.90 Lakh for the year ended March 31, 2019. Interest aggregating to = 1,91,410.04 Lakh has not been recognised till date. The same is not in compliance with requirements of Ind AS -

23 on “Borrowing Cost” read with Ind AS - 109 on “Financial Instruments”.

b) The Company has not translated certain foreign currency trade payables, trade receivables and borrowings as at March 31, 2019 using closing exchange rate having an impact on exchange

difference loss of = 2,356.13 Lakh for the year ended March 31, 2019 (for the year ended March 31, 2018 is loss of = 1,926.86 Lakh). Cumulative foreign exchange difference loss of = 4,282.99

Lakh till date. The same is not in compliance with Ind AS – 21 on “The Effects of Changes in Foreign Exchange Rates”.

c) Had provision for interest, bank charges and exchange difference been recognised, finance cost and total expenses, would have been higher while profit and total comprehensive income for

year ended would have been lower by aggregate amount as mentioned above, having consequential impact on other current financial liability and other equity.

(i) Going Concern

We draw attention to the Note no. 47 (vi) to the Restated Standalone Financial Information, regarding preparation of standalone financial statements on going concern basis, which states that

the Company has incurred cash losses, its liabilities exceeded total assets and its net worth has been fully eroded as on March 31, 2019. In view of the continuing default in payment of dues,

certain lenders have sent notices/letters recalling their loans given and called upon the Company to pay entire dues and other liability, receipt of invocation notices of corporate guarantees given

by the Company, while also invoking the personal guarantee of promoter director. Few of the lenders also issued wilful defaulter notices and filed petition for winding up of the Company.

Capacity utilization of manufacturing processing facilities is very low and Corporate Insolvency Process against the Company is in process. Since the CIRP is currently in progress, as per the Code,

it is required that the Company be managed as a going concern during the CIRP. The standalone financial statements is continued to be prepared on going concern basis. However there exists

material uncertainty about the Company’s ability to continue as going concern since the same is dependent upon the resolution plan to be approved by NCLT. The appropriateness of preparation

of standalone financial statements on going concern basis is critically dependent upon CIRP as specified in the Code.


(ii) Attention is drawn to the Note no. 33 (c) (ii) (b) to the Restated Standalone Financial Information, regarding impounding of three plants at Kandla Gujarat i.e. Edible Oil Refinery, Oleochem

Division and Guargum Division by the Gujarat Commercial Tax Department against their VAT claim of = 43,276.81 Lakh.

(iii) Attention is drawan to the Note no. 47 (vii) to the Restated Standalone Financial Information, the balance confirmations of trade receivables and advances given to vendors, customers’

advances received & trade payables. During the course of preparation of standalone financial statements, e-mails/letters have been sent to various parties by the company with a request to

confirm their balances to us out of which few parties have confirmed their balances directly to us. In the absence of the confirmation of balances, the possible adjustment, if any, will be

accounted for as and when the accounts is settled / reconciliation / finality of the balances with those parties.


(i) In respect of property, plant and equipment :-

In our opinion and according to information and explanations given to us and on the basis of our examination of available records of the Company, the title deeds of immovable properties are

held in the name of the Company except the following :-

(ii) (a) According to the records of the Company and information and explanations given to us, the Company has generally been regular except slight few delays in few cases, in depositing

undisputed statutory dues, including provident fund, employees' state insurance, income tax, duty of customs, goods and service tax, cess and any other statutory dues to the appropriate

authorities as applicable during the year. According to the information and explanations given to us, no undisputed amounts payable in respect of such statutory dues were outstanding as at

March 31, 2019 for a period of more than six months from the date they became payable.

3) Other audit qualifications included in the Annexure to Auditor’s report issued under the Companies (Auditor’s Report) Order, 2016, which does not require any

corrective adjustment in the Restated Standalone Financial Information:


Annexure - VI


� in Lakh

Name of the Statute Nature of Dues Amount Disputed Amount deposited under

Protest

Period to which Dispute

Relates

Forum where Dispute is

Pending

16,299.85 713.43 FY* 1999-00 to 2015-16 &

18-19

High Court

8,331.16 606.77 FY 1997-98 to 2013-14 &

2017-18

Tribunal(CESTAT)

3,250.80 760.79 FY 2001-02 to 2013-14 &

2016-17

Commissioner

61,878.15 903.63 FY 1999 - 2000 to 2018-19 DC Appeals / Joint

Commissioner(Appeals)

77.48 28.97 FY 2002 to 2006 Settlement Commission

454.79 14.89 2004-05 to 2005-06 High Court

6,911.39 39.11 2001-02 to 2016-17 Tribunal

183.03 5.37 2005-06 to 2014-15 Commissioner (Appeals)

1,177.59 29.14 2002-03 & 2008-09 to 2012-

13

Tribunal

282.58 11.91 2006-07 to 2013-14, 14-

15,2018-19

Commissioner (Appeals)

5,003.43 108.16 FY 2001-02,02-03, 2003-04 &

2015-16

Supreme Court

5,663.99 92.78 High Court

16,795.90 20.51 FY 1998-99, 2000-01, 2003-

04 to 2006-07, 2012-13 to

2013-14, 2015-16 & 2017-18 Tribunal CESTAT

321.26 4.75 FY 2003-04, 2005-06, 2006-

07, 2013-14 & 2018-19 Commissioner (Appeals)

1,738.30 530.55 FY 2001-02, 2004-05 & 2009-

10

AC Appeals / DC Appeals

181.67 - AY 2007-08 ITAT

6,317.29 1.68 AY 2004-05 & 2008-09 to

2015-06

DC Appeals / Joint

Commissioner(Appeals)

18.08 - AY 2007-08 to

2018-19

Assessing Officer

134,886.74 3,872.44

� in Lakh

Principal Interest*

TERM LOAN-STATE BANK INDIA. (CORP-IV) 8,999.62 1,382.29 TERM LOAN-STATE BANK INDIA-65CR. G'GUM 2,578.66 371.11 TERM LOAN-STATE BANK OF INDIA (CTL-V ) 17,000.00 2,656.78 TERM LOAN-STATE BANK OF INDIA-60CR 3,531.02 642.43 ECB-DBS BANK,SINGAPORE (ECB - II & III) 22,177.15 2,074.55 FCCB-STANDARD CHARTERED BANK –SCB 3,190.27 295.82

TOTAL 57,476.72 7,422.99

� in Lakh

Principal Interest*

State Bank of India – Group 129,732.69 15,275.34

Central Bank of India 79,119.75 2,851.25

Punjab National Bank 73,239.19 1,184.39

Standard Chartered Bank 35,152.41 -

Corporation Bank 45,020.49 5,593.23

ICICI Bank Limited 48,363.00 15.38

IDBI 46,497.00 3,529.00

Bank of India 30,501.39 4,825.92

UCO Bank 29,070.15 5,100.41

Union Bank of India 24,016.46 5,060.88

Syndicate Bank 25,785.80 3,013.11

Bank of Maharashtra 23,252.67 3,102.69

Axis Bank Limited 24,131.59 1,379.91

Bank of Baroda 21,683.54 1,991.16

IDFC - Edelweiss ARC 19,303.21 3,863.85

Dena Bank 18,877.01 2,672.99

Karur Vysya Bank 20,740.91 42.00

HDFC Bank 13,501.51 2,768.40

Oriental Bank of Commerce 12,876.00 1,145.00

Rabo Bank 72,977.30 4,862.68

DBS Bank – India 2,944.74 269.91

ANZ 19,005.65 713.79

TOTAL 815,792.46 69,261.29

The Central Excise Act, 1944 Excise Duty

Service Tax under Finance Act, 1994 Service Tax

(b) According to the information and explanations given to us and the records of the Company examined by us, there are no dues of income-tax, sales-tax, service-tax, duty of customs, duty of

excise, value added tax and goods and service tax, which have not been deposited on account of any dispute except as mentioned below:-

The Central Sales Tax Act, 1956, VAT Act and

Local Sales Tax Acts

Vat Tax/Sales

Tax/Entry

Tax/Sales Tax

Demand and

penalty, as

applicable

As per Recall Notice vide dated September 23,2016As per Recall Notice vide dated January 25,2017

* Interest accrued up to December 15, 2017

B. In respect of Short term loans from various banks:

As per Recall Notice vide dated April 07,2017As per Recall Notice vide dated April 07,2017As per Recall Notice vide dated April 07,2017

The Customs Duty Act, 1962 FY 2001-02 to 2004-

05 2006-07, 2007-

08, 2015-16 &

2017-18

Particulars Amount of continuing default as on March

31, 2019

Period of Default

The Income Tax Act, 1961 Income Tax

TOTAL

*FY – Financial Year, **AY – Assessment Year

(iii) According to the records of the Company examined by us and the information and explanation given to us, the Company has not defaulted in repayment of loans or borrowings to any

financial institution or bank and government as at balance sheet date except as mentioned below. There are no dues to debenture holders as at the balance sheet date.

A. In respect of Term loans from banks:

As per Recall Notice vide dated April 07,2017

As per Recall Notice vide dated 25.01.2017


Financial Year 2015-16 to 2018-19



As per Recall Notice NPA w.e.f.23.09.2016

Bank Name Amount of continuing default as on March

31, 2019

Period of Default


As per Recall Notice vide dated 05.09.2016 and F.Y. 2018-19






As per Review Letter vide dated 10.08.2016


* Interest accrued up to December 15, 2017







Financial Year 2015-2016 (As per endorsement)


Annexure - VI


� in Lakh

Particulars

IFST Deferral scheme of Government, Tamilnadu

� in Lakh


No. of cases 1 1 2



For the year ended March 31, 2021:-


� in Lakh


No. of cases 1 1 2



Note - 47


C. In respect of sales tax deferment:

Amount of Continuing default as on March

31, 2019Period of default

4,474.54 Outstanding since December 2017



(ii) (a) According to the records of the Company and information and explanations given to us, the Company has generally been regular, in depositing undisputed statutory dues, including

provident fund, employees' state insurance, income tax, duty of customs, goods and service tax, cess and any other statutory dues, except in few cases, to the appropriate authorities as

applicable during the year. According to the information and explanations given to us, no undisputed amounts payable in respect of such statutory dues were outstanding as at March 31,, 2021

for a period of more than six months from the date they became payable.

(iii) The National Company Law Tribunal (‘NCLT’) has approved the terms of the Resolution Plan submitted by Resolution Applicant, pursuant to which loans or borrowings owed by the Company

as at that date have been partially paid and balance amount has been extinguished. Accordingly, the Company has not defaulted in repayment of loans or borrowings to any financial institution

or a bank or government or any dues to debenture-holders during the year.

(iv) During the course of our examination of the books and records of the Company, carried out in accordance with the generally accepted auditing practices in India, and according to the

information and explanations given to us, we have neither come across any instance of material fraud by the Company or on the Company by its officers or employees, noticed or reported during

the year, nor have we been informed of any such case by the Management. However, we have been informed that Company has received communication dated May 10, 2018 from Serious Fraud

Investigation Office, Ministry of Corporate Affairs, New Delhi regarding investigation into the affairs of the Company under section 212 (1) of the Companies Act, 2013, the matter is still going on.

(iv) During the course of our examination of the books and records of the Company, carried out in accordance with the generally accepted auditing practices in India, and according to the

information and explanations given to us, we have neither come across any instance of material fraud by the Company or on the Company by its officers or employees, noticed or reported during

the year, nor have we been informed of any such case by the Management/RP. However, we have been informed that Company has received communication dated May 10, 2018 from Serious

Fraud Investigation Office, Ministry of Corporate Affairs, New Delhi regarding investigation into the affairs of the Company under section 212 (1) of the Companies Act, 2013, the matter is still

going on.

For the year ended March 31, 2020:-




(ii) (a) According to the records of the Company and information and explanations given to us, the Company has generally been regular, in depositing undisputed statutory dues, including

provident fund, employees' state insurance, income tax, duty of customs, goods and service tax, cess and any other statutory dues, except in few cases, to the appropriate authorities as

applicable during the year. According to the information and explanations given to us, no undisputed amounts payable in respect of such statutory dues were outstanding as at March 31, 2020

for a period of more than six months from the date they became payable.

(b) As mentioned in Note no. 33# to the Restated Standalone Financial Information, as per approved resolution plan, which interalia resulted in extinguishment of all contingent liabilities and

commitments, claims and obligations, which pertains to the period on or before the effective date (i.e. September 06, 2019 pursuant to the implementation of the Resolution Plan). There are no

dues of income-tax, sales-tax, service-tax, duty of customs, duty of excise, value added tax and goods and service tax, which have not been deposited on account of any dispute.

(i) The National Company Law Tribunal (“NCLT”), Mumbai Bench, vide its order dated December 15, 2017 (“Insolvency Commencement Date”) ("NCLT order") admitted company petition nos.

1371&1372/I&BP/NCLT/MAH/2017 ("Company petition"),filed by Standard Chartered Bank and DBS Bank Ltd. for initiation of the Corporate Insolvency Resolution Process (“CIRP”) of the

Company, u/s 7 of the Insolvency and Bankruptcy Code, 2016 (“the Code”). Vide the NCLT order, the moratorium under Section 14 of the Code came into the effect and Mr. Shailendra Ajmera,

with IP Registration No. IBBI/IPA-001/IP-P00304/2017-18/10568 was appointed as Interim Resolution Professional (“IRP”) to, inter alia manage the affairs of the Company in accordance with

the provisions of the Code.

In the first meeting of the Committee of Creditors (“CoC”) held on January 12, 2018, Mr. Shailendra Ajmera was confirmed as the Resolution Professional (“RP”) for the Company. Pursuant to the

NCLT Order, the powers of the Board of Directors of the Company stood suspended and they were vested in the IRP / RP. By an order dated June 08, 2018 the NCLT extended the CIRP time

period by 90 more days with effect from June 12, 2018.

The RP filed a Miscellaneous Application 926/2018 ("MA 926/2018") under Section 30(6) of the Code before the Hon’ble NCLT for its consideration of the resolution plan as approved by the CoC

by e-voting concluded on August 23, 2018.The Hon’ble Supreme Court of India, by its order dated January 31, 2019 in Civil Appeal no. 8430 of 2018 (“SC Order”), directed re-consideration of all

resolution plans afresh by the CoC. In light of the SC order, the Hon'ble NCLT vide order dated February 07, 2019 dismissed the M.A. 926/2018 as withdrawn.

The CoC, in accordance with the directions of the Hon’ble Supreme Court of India, considered the resolution plans as submitted before it afresh. After due deliberations, the CoC approved the

resolution plan submitted by the consortium of Patanjali Ayurved Limited, Divya Yog Mandir Trust (through its business undertaking, Divya Pharmacy), Patanjali Parivahan Private Limited and

Patanjali Gramudhyog Nyas (“PAL Resolution Plan”), by e-voting concluded on April 30, 2019.

The RP filed an application bearing MA No. 1721 of 2019 in the Company Petition under Section 30(6) of the Code before the Hon’ble NCLT for its consideration and approval of the PAL

Resolution Plan. The same is pending for approval.

In terms of Sections 14(4) and 31(3) of the Code, until the resolution plan is approved by the Hon’ble NCLT, the moratorium shall continue to be in effect and accordingly, the RP shall, continue

to manage operations of the Company on a going concern basis during the CIRP.

These financial statements were placed before the RP, the CFO and the Company Secretary on May 29, 2019 for their consideration. Accordingly, the financial statements were considered and

recommended in the meeting. In view thereof, the RP, in reliance of such examination by and the representations, clarifications and explanations provided by the CFO, has approved the same.

The CFO has provided the certifications and representations with responsibility in respect of various secretarial, compliance and broad matters pertaining to the period prior to Insolvency

Commencement Date. The Resolution Professional is relying on the management representation letter dated May 29, 2019 for all information and confirmations in relation to the day to day

functioning of the Company.

The RP has approved these financial statements only to the limited extent of discharging the powers of the Board of Directors of the Company (suspended during CIRP) which has been conferred

upon him in terms of provisions of Section 17 of the Code.

As mentioned in note 33# to the Restated Standalone Financial Information, as per approved resolution plan, which interalia resulted in extinguishment of all contingent liabilities and

commitments, claims and obligations, which pertains to the period on or before the effective date (i.e. September 06, 2019) pursuant to the implementation of the Resolution Plan. There are no

dues of income-tax, sales-tax, service-tax, duty of customs, duty of excise, value added tax and goods and service tax, which have not been deposited on account of any dispute.


Annexure - VI


Note - 48

Note - 49

Note - 50

As per our report of even date attached For and On Behalf of Board of DirectorsFor Chaturvedi and Shah LLP

Chartered AccountantsRegistration No. 101720W/W100355

Sd/- Sd/- Sd/-Vijay Napawaliya Acharya Balkrishna Ram BharatPartner Chairman Managing Director

Membership no. 109859 Place: Haridwar Place: HaridwarPlace: Mumbai DIN No. 01778007 DIN No. 01651754

Sd/- Sd/-


Chief Financial Officer Company SecretaryDate: August 16, 2021 Place: Indore Place: Indore

(v) The Company has not recognised interest payable, after the insolvency commencement date i.e. December 15, 2017, on borrowings from banks and financial institutions, customer advance,

inter corporate deposits and security deposits received and bank charges on borrowing from banks and financial institutions. Accordingly, interest and bank charges amounting to 6 1,56,848.90

Lakh for the year ended March 31, 2019, has not been recognised ( 6 34,561.14 Lakh for the year ended March 31, 2018). Cumulative interest till March 31, 2019 is 6 1,91,410.04 Lakh.The same

is not in compliance with Ind AS - 23 on “Borrowing Cost” read with Ind AS - 109 on “Financial Instruments”.

Certain trade payables, trade receivables and borrowings denominated in foreign currency and outstanding at insolvency commencement date i.e. December 15, 2017 and which continue to

remain outstanding as at March 31, 2019, impact of exchange difference i.e. loss of 6 2,356.13 Lakh for year ended 31 March 2019 on the same is not recongined (Loss of 6 1,926.86 Lakh for

the year ended March 31, 2018). Cumulative foreign exchange difference loss is 6 4,282.99 Lakh till March 31, 2019. The same is not in compliance with Ind AS – 21 on “The Effects of Changes

in Foreign Exchange Rates” that requires foreign currency monetary items shall be translated using the closing rate.

Had provision for interest, exchange difference and bank charges would be recognised, finance cost and total expenses would have been higher and profit for the year and total comprehensive

income would have been lower by equivalent amount as mentioned above having consequential impact on other current financial liability and other equity.

As mentioned in Note no. 47 (i) , the Honourable NCLT has admitted a petition to initiate insolvency proceeding against the Company under the Code. As per the Code, it is required that the

Company be managed as a going concern during the CIRP. Further, as mentioned in Note no. 47 (i), the CIRP period continues to be in effect till the CoC approved Resolution Plan of PAL is

approved by the NCLT.

The future prospects of the Company would be determined on the completion of CIRP. Hence, in view of the above facts and continuing operations of the Company, the financial statements

have been prepared on a going concern basis.

In respect of claims submitted as on December 15, 2017, the RP has admitted financial and operational creditor claims in the list of creditors filed with the NCLT dated April 26, 2019. No

accounting impact in the books of accounts has been made in respect of excess, short or non-receipts of claims for the financial and operational creditors.

Subsequent to year end March 31, 2021, a) The Company has acquired biscuits and associated bakery products business including the manufacturing facilities from Patanjali Natural Biscuits

Private Limited under a business transfer agreement for slump consideration of 6 6,002.50 Lakh on a going concern basis; b) The Company and Patanjali Ayurved Limited entered into

agreements for manufacturing of nutraceuticals products, assignment of contract manufacturing related to noodles and breakfast cereals and usage of brand license of Patanjali; c) The Company

has filed Draft Red Herring Prospectus dated June 12, 2021 with the Securities and Exchange Board of India for Further Public Offering of equity shares for an amount aggregating up to 6

4,30,000 Lakh.

The figures for the previous years have been re-grouped/ re-arranged, wherever necessary, to correspond with the current year's classification/disclosure.

(vi) The Company has incurred losses, its liabilities exceeded total assets and its net worth has been fully eroded as at March 31, 2019. In view of the continuing default in payment of dues,

certain lenders have sent notices/letters recalling their loans given and called upon the Company to pay entire dues and other liabilities, receipt of invocation notices of corporate guarantees

given by the Company, while also invoking the personal guarantee of Promoter Directors. Certain lenders have also issued wilful defaulter notices and filed petition for winding up of the Company.

The Company has received communication dated May 10, 2018 from Serious Fraud Investigation Office (SFIO), Ministry of Corporate Affairs, New Delhi regarding investigation into the affairs of

the Company under section 212 (1) of the Companies Act, 2013. Certain information as sought were submitted to SFIO.

(vii) In respect of Company’s trade receivables and advances given to vendors, customers’ advances received & trade payables balance confirmations has been sent to various parties out of

which few parties have confirmed their balance as at March 31, 2019.

(ii) The carrying value of tangible assets (including capital work in progress of 6 2,691.30 Lakh) and intangible assets as at March 31, 2019 is 6 3,73,856.97 Lakh and 6 1,51,589.30 Lakh,

respectively. As explained in Note no. 47 (i) above, the Company is under CIRP. As such, the Company has not taken into consideration any impact on the value of the tangible and intangible

assets, if any, in preparation of Financial statements as required by Ind-AS 10 on “Events after the reporting period”. Further, the Company has also not made full assessment of impairment as

required by Ind AS 36 on Impairment of Assets, if any, as at March 31, 2019 in the value of tangible and intangible assets.

(iii) The Demat Statement as at March 31, 2019 which is evidence of ownership for certain investments amounting to 6 946.10 Lakh has not been provided by the depository participant.

(iv) In respect of Company’s borrowings from banks and financial institutions aggregating 6 2,74,114.55 Lakh, bank balances (current account and term deposits) aggregating 6 1,908.44 Lakh,

balance confirmations as at March 31, 2019 has not been received by the Company. In accordance with the Code, the IRP/RP has to receive, collate and admit the claims submitted against the

Company. Such claims can be submitted to the IRP/RP during CIRP, till the approval of a resolution plan by the CoC. Pursuant to the claims received on December 29, 2017, the CoC was formed

on January 05, 2018, and the list of such creditors was duly notified to the NCLT and uploaded on the company website.